Find financial news and analysis across NZ and Australia.
18 results for “cost-of-living”
Australia's national minimum wage will rise by 4.75% from July 1, 2026, marking the first time the weekly rate has exceeded A$1,000.
KiwiSaver early withdrawals reached $229.6 million in April 2026. While first-home buyers made up the bulk of the total value, 4,410 New Zealanders withdrew $38.5 million due to severe financial hardship.
Shares in Domino’s and Collins Foods have seen sharp declines as Australian inflation hits 4.6% and high interest rates squeeze household budgets, forcing a pullback in discretionary spending.
The New Zealand Government has introduced the Fair Trading Amendment Bill, proposing to raise corporate penalties for misleading pricing to $5 million or three times the commercial gain. The legislation aims to deter deceptive practices and protect consumers from pricing errors that cost tens of millions of dollars annually.
New Zealand's Budget Economic and Fiscal Update 2026 projects an operating surplus by the 2028/29 fiscal year, one year earlier than previously forecast. The improved outlook is driven by increased tax revenue and spending restraint.
New Zealand's housing market slowed significantly in April 2026, with national sales volumes falling 7.9% annually and the median price dropping to $775,000. Rising inventory levels and anticipated interest rate hikes are contributing to a shift in market dynamics.
New Zealand's annual inflation rate remained at 3.1% in the March 2026 quarter, exceeding the RBNZ’s target band and market expectations. Rising electricity and local rates continue to drive domestic costs.
Finance Minister Nicola Willis has delivered Budget 2026, committing $7 billion in capital funding for key transport, health, and housing projects. The package balances infrastructure catch-up with fiscal prudence amid trimmed growth forecasts.
The Federal Court of Australia has ordered Westpac Banking Corporation to pay a $26 million civil penalty. The fine follows systemic failures to respond to over 200 online financial hardship requests between 2017 and 2023.
The Australian Federal Budget 2026-27 introduces a significant package of tax relief measures, including phased income tax rate reductions and a new $1,000 instant tax deduction. Starting July 1, 2026, these measures aim to provide substantial cost-of-living relief and simplify tax compliance.
National Australia Bank has raised its variable home loan rates by 0.25% following the RBA's decision to lift the cash rate to 4.35%. The move marks the third consecutive increase this year, adding significant costs to Australian mortgages.
The Australian Wage Price Index rose by 0.8% in the March quarter 2026, bringing annual wage growth to 3.3%. This steady growth comes as the Reserve Bank of Australia maintains a high cash rate of 4.35% to combat persistent inflation.
Commonwealth Bank reported a $2.7 billion cash profit for the March quarter 2026, a 1% decline from its first-half average as technology investments and loan provisions rose.
The 2026-27 Federal Budget introduces major changes to negative gearing and capital gains tax, aiming to help 75,000 more Australians own homes while generating $3.6 billion in revenue.
Coles Group reported a 3.1% increase in total sales to $10.7 billion for the third quarter of 2026, supported by a 24.8% jump in eCommerce revenue and 4.0% growth in supermarkets.
The Cook Government has announced a ban on no-grounds evictions and an extension of the Rent Relief Program to June 2027 to address Western Australia's rental crisis.
Australia's 2026 economic outlook remains cautious, with the IMF projecting 2.0% GDP growth and inflation hitting 4.0%. As the RBA prepares for further rate hikes, consumer sentiment has fallen to near-record lows.
Woolworths Group reported Q3 sales of A$18.10 billion, beating expectations, but shares dropped nearly 10% as the company warned that rising fuel costs and geopolitical tensions will impact profit margins.