Australians cut spending...except on alcohol—does that sound familiar?
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Budgets might be tighter than a pair of jeans after Christmas lunch, but that hasn’t stopped Aussies from reaching for something.
While spending is down in most areas, there’s one surprising category where wallets are flying open faster than a Bunnings sausage sizzle queue.
New figures reveal a curious twist in our national habits—one that’s fizzing more than our bank accounts.
Households across Australia might have been pinching pennies lately, but it turns out there’s one thing we just can’t say no to—booze.
New data from the Australian Bureau of Statistics revealed that overall spending barely moved in April, crawling up just 0.1 per cent. When it came to goods specifically, it actually dropped by 1.2 per cent. Yet somehow, amid all the financial belt-tightening, wine racks and beer fridges have been mysteriously restocking themselves.
A survey by comparison site Canstar Blue found that Australians have been pouring more into their wine and beer budgets than they did this time last year.
The average monthly spend on wine jumped from $66 to $77—a 17 per cent increase. Beer spending didn’t just follow suit, it cracked open a cold one and sprinted ahead, leaping 30 per cent from $76 to $99.
That’s not just a few extra stubbies for the weekend, either. The price of beer only went up 4.5 per cent over the past year, so the boost in spending goes far beyond inflation—it’s a full-blown national hobby.
It’s all part of a broader picture of cautious consumer behaviour. While fresh GDP figures released a day earlier showed that Australians are saving more—now tucking away 5.2 per cent of their income compared to less than 4 per cent at the end of last year—the idea of cracking open a bottle still seemed to bring comfort.
Canstar Blue spokesperson Eden Radford said: ‘The Easter holidays helped pick up spending slightly for the month of April, but these latest figures show households chose to spend more on experiences than on discretionary items, like clothing and footwear.’
‘Despite spending on alcoholic beverages and tobacco falling for the month, Canstar Blue research shows average monthly spending specifically on wine and beer has increased over the last year, with survey data showing $99 for beer and $77 for wine.’
She added that with so many households keeping a close eye on their finances, many people were likely waiting for big sale periods—or perhaps their tax return—to splash out on bigger purchases.
And speaking of financial hopes and dreams, the Reserve Bank might soon offer a bit of relief.
Following 3 June’s GDP release, markets were betting big on a rate cut at the RBA’s next meeting in July. Odds of a cut rose to 86 per cent—up from 81 per cent the day before.
So while the rest of the budget might be on ice, the drinks definitely weren’t. Cheers to priorities!
With rising costs changing the way we shop, it’s clear that many Aussies are adjusting their spending habits in surprising ways.
Take a moment to watch this video to see how others are navigating these changes—you might find some ideas that resonate with your own experience.
Source:: Youtube/ABC News (Australia)
With budgets tightening but drinks cabinets staying well stocked, how do you balance treating yourself with saving for the future? Let us know your thoughts in the comments.
While spending is down in most areas, there’s one surprising category where wallets are flying open faster than a Bunnings sausage sizzle queue.
New figures reveal a curious twist in our national habits—one that’s fizzing more than our bank accounts.
Households across Australia might have been pinching pennies lately, but it turns out there’s one thing we just can’t say no to—booze.
New data from the Australian Bureau of Statistics revealed that overall spending barely moved in April, crawling up just 0.1 per cent. When it came to goods specifically, it actually dropped by 1.2 per cent. Yet somehow, amid all the financial belt-tightening, wine racks and beer fridges have been mysteriously restocking themselves.
A survey by comparison site Canstar Blue found that Australians have been pouring more into their wine and beer budgets than they did this time last year.
That’s not just a few extra stubbies for the weekend, either. The price of beer only went up 4.5 per cent over the past year, so the boost in spending goes far beyond inflation—it’s a full-blown national hobby.
It’s all part of a broader picture of cautious consumer behaviour. While fresh GDP figures released a day earlier showed that Australians are saving more—now tucking away 5.2 per cent of their income compared to less than 4 per cent at the end of last year—the idea of cracking open a bottle still seemed to bring comfort.
Canstar Blue spokesperson Eden Radford said: ‘The Easter holidays helped pick up spending slightly for the month of April, but these latest figures show households chose to spend more on experiences than on discretionary items, like clothing and footwear.’
‘Despite spending on alcoholic beverages and tobacco falling for the month, Canstar Blue research shows average monthly spending specifically on wine and beer has increased over the last year, with survey data showing $99 for beer and $77 for wine.’
She added that with so many households keeping a close eye on their finances, many people were likely waiting for big sale periods—or perhaps their tax return—to splash out on bigger purchases.
And speaking of financial hopes and dreams, the Reserve Bank might soon offer a bit of relief.
Following 3 June’s GDP release, markets were betting big on a rate cut at the RBA’s next meeting in July. Odds of a cut rose to 86 per cent—up from 81 per cent the day before.
So while the rest of the budget might be on ice, the drinks definitely weren’t. Cheers to priorities!
With rising costs changing the way we shop, it’s clear that many Aussies are adjusting their spending habits in surprising ways.
Take a moment to watch this video to see how others are navigating these changes—you might find some ideas that resonate with your own experience.
Source:: Youtube/ABC News (Australia)
With budgets tightening but drinks cabinets staying well stocked, how do you balance treating yourself with saving for the future? Let us know your thoughts in the comments.
