Shoppers are cutting back their spending at supermarkets, bakeries and butchers to cope with soaring insurance and education costs as household spending continues to slump.

Commonwealth Bank chief Economist Stephen Halmarick told Julie-anne Sprague on 6PR Afternoons there was quite a bit of spending disparity between higher and lower earners.

Shoppers are cutting back their spending at supermarkets, bakeries and butchers to cope with soaring insurance and education costs as household spending continues to slump.
Commonwealth Bank chief Economist Stephen Halmarick told Julie-anne Sprague on 6PR Afternoons there was quite a bit of spending disparity between higher and lower earners.

Join Tod Johnson for The Long Lunch on 6PR from midday to 3pm weekdays!

Join Tod Johnson for The Long Lunch on 6PR from midday to 3pm weekdays!