Matthew Allman
Inflation spurring the “cost-of-living crisis” during 2022 and 2023. The pressure on household budgets from higher prices was exacerbated by the Reserve Bank’s necessary response of much higher interest rates, which dragged spending lower throughout 2023 and much of 2024.
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Image attributions:
- 100, 20 Euro (EUR), and 100, 20 Dollar (USD) banknotes placed back-to-back vertically and horizontally on a reflecting surface. by Ibrahim Boran. Copyright 2021. Licensed from Unsplash.
