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As rising living costs bite, Australians aged 25-29 represent the only age group to decrease both discretional and essential spending. This is according to the latest data from CommBank iQ, our joint venture with Commonwealth Bank, that found sharp generational and geographic spending divides across the country. Travel and entertainment are taking priority as the only discretionary categories to record above-inflation growth. In fact, cinema purchases rose by 31% with younger Australians in particular delighting in the #Barbenheimer effect. While city dwellers feel the mortgage and rental pinch, regional Australians are faring better and growing their spending more than double their metropolitan counterparts. For more on how and where Australians are spending, read the full Cost of Living Insights Report here: https://lnkd.in/gxMxCz88 #costofliving #inflation #consumertrends #datascience #Quantium #CommBankiQ

Consumers cut back discretionary spend but leave room for travel and entertainment

Consumers cut back discretionary spend but leave room for travel and entertainment

commbank.com.au

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