Household costs rising by $110 a week, but incomes by $100

Household costs rise dramatically but so do incomes. (Image: Getty)

Wed, 21 Sep 2022

Rising costs are expected to add about $110 a week to household bills over the next 12 months, according to an analysis by ASB economists.While some will struggle, an increase in income should provide an offset for many although household spending is likely to remain subdued.The report – Household Living Cost Update: The income offset – said the headwinds of higher living costs, lower house prices, weaker balance sheets and lower population growth had contributed to “downbeat headlines and weak measures of consumer sentiments&...

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