Cost of Living and Mortgage Stress Affect Northern Territory and South Australia
What happened
Australian Bureau of Statistics information reveals high cost of living and mortgage stress, which varies across states. Restaurant prices are rising, with the average chicken parmigiana costing $30.14 across 3,213 venues. The dish is currently cheapest in the Northern Territory at $29.56 and most expensive in South Australia at $31.15.
From realestate.com.au
Why it matters
Regional price variation and restaurant inflation are affecting consumer spending in Northern Territory and South Australia. High mortgage stress, driven by interest rate increases, is forcing families to cut back on everyday luxuries to meet loan repayments.
Regional price variation and restaurant inflation are affecting consumer spending in Northern Territory and South Australia.
From realestate.com.au
Who's involved
- South AustraliaState government of South Australia manages regulatory functions.
- Northern TerritoryFederal territory of Australia is subject to cost pressures.
- Commonwealth BankAustralian multinational bank faces rising consumer costs.
- Peter MalinauskasPremier of South Australia.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Commonwealth BankSpeculative
Commonwealth Bank might increase credit risk exposure due to rising consumer costs.
- Michelin GuideSpeculative
Michelin Guide could see reduced culinary tourism demand due to mortgage stress and inflation.
- Northern TerritorySpeculative
Northern Territory may confirm existing high inflation and consumer cost pressures via ABS information.
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The entities involved
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South Australia
state of Australia
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Northern Territory
federal territory of Australia