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14 Aug 2022 17:57
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  •   Home > News > Business

    Retailers just got through the pandemic, but the cost of living crisis is going to make things tough for the next year

    Retailers just got through the pandemic, but the cost of living crisis is going to make things tough for the next year


    ASB Bank estimates aggregate household outgoings will lift to 15 billion dollars over the next 18 months, when factoring in the cost of living.

    It's roughly equivalent to nine percent of retail sales.

    Senior Economist Mike Jones says it's looking like spending patterns will tighten up considerably.

    He says we're potentially looking at some pretty weak retail and consumer spending numbers later this year.

    © 2022 Newstalk ZB, NZCity

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     Today's News

    Rugby:
    North Harbour lead Manawatu in the second half of their NPC outing in Auckland 17:29

    Cricket:
    The Black Caps look unshakeable heading into their final dead rubber twenty20 against the West Indies tomorrow morning 17:09

    Law and Order:
    Auckland have survived against a valiant Southland outfit for a 24-23 NPC victory in Invercargill 16:49

    Rugby:
    Former All Black Mike Brewer believes coach Ian Foster will be axed in spite his team's stunning 35-23 win over South Africa at Ellis Park 16:39

    Politics:
    More than $10 million in assistance claims denied as Australians caught trying to rort flood support 16:09

    Rugby League:
    Cameron Ciraldo has inked a five year deal to take over as Canterbury Bulldogs head coach in the NRL 15:29

    Health & Safety:
    New Zealand has 2,618 community cases today - the lowest figures since February 14:49

    Law and Order:
    Black Caps paceman Matt Henry's been ruled out of the remainder of the West Indies tour due to a rub injury 14:49

    International:
    Donald Trump's Mar-a-Lago was a 'nightmare' environment for housing classified documents, experts say 14:19

    Politics:
    A political commentator thinks bullying in Parliament is an ongoing problem 13:49


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