Latest news with #costofliving
The Guardian
an hour ago
- Business
- The Guardian
Baby recession deepens in Australia's biggest cities amid cost-of-living crisis, preliminary data shows
Baby recessions in Australia's biggest cities deepened in 2024 amid sustained cost-of-living pressures, dragging the nation's birthrate to a near-record low in 2024. Sydney, Melbourne and Brisbane each saw further declines in the number of children born per woman from 2023 to 2024, according to KPMG's preliminary analysis of Australian Bureau of Statistics population data, barely offset by increases in Perth and in regional Australia. The analysis also found outer-suburban and regional Australians grew increasingly likely to have higher numbers of children per person than their inner-city neighbours. Overall the country's fertility rate, or children born per woman, was 1.51 in 2024, statistically similar to the 1.5 observed in 2023 and well below the rate of 1.8 observed a decade beforehand. Sign up for Guardian Australia's breaking news email Young families continued to delay or give up on having children in the face of elevated living costs over the year, according to Amanda Davies, professor of demography at the University of Western Australia. 'Not much has changed for people who are looking at having a family or thinking about extending their family; they are really struggling,' Davies said. 'There's a feeling they need to have secure housing before starting a family, and that extreme housing crisis that's being faced in all parts of Australia is [related] to that declining fertility rate.' The gap between suburbs is expected to sustain as soaring costs for multi-bedroom homes continued to push families out of the inner city, according to economist Ashton De Silva. 'Children are becoming more and more expensive,' said de Silva, a professor at RMIT University. 'Unless something drastic changes, I would probably continue to expect to see that families are going to be located on the urban fringes.' Melbourne, Sydney and Brisbane each saw fertility rates fall further in 2024, with the Victorian capital the lowest at 1.4, compared to 1.71 in 2014. Sign up to Breaking News Australia Get the most important news as it breaks after newsletter promotion The decline was in part offset by increased childbirths in regional centres as young parents pursued jobs and affordable housing, according to Terry Rawnsley, urban economist at KPMG. 'People have shifted out of Sydney and Melbourne – sparked by Covid, followed up by ability to work remotely, and then housing [cost] refugees – [to] places like Newcastle and Geelong,' he said. Further decline in birthrates below the replacement rate of 2.1 children born per woman would see locally born populations shrink and increase the capitals' reliance on interstate and international migration to fill local job shortages, Rawnsley said. In regional Australia, though, the total numbers of children born each year has risen over the last decade in absolute terms, despite falling in the capitals. Perth was an exception among the capital cities in 2024, seeing its birth numbers stabilise and its fertility rate rebound to its highest point since 2021, helped by a stronger jobs market and relatively better affordability than the eastern capitals, Rawnsley said. 'If people are confident about the economy and cost-of-living is taking a back seat, they're going to get out there and add to the family,' he said. However, temporary economic upswings are not expected to offset the long-term fall in Australia's fertility rates, which are likely to decline further over the next decade as living costs remain elevated, according to UWA's Davies. 'We're still expecting to see, over the next decade, population fertility decline, until we start to arrest the factors that are driving that in terms of cost of living,' Davies said.
The Sun
2 hours ago
- General
- The Sun
Households can apply for £500 cost of living cash boost NOW ahead of summer holidays
THOUSANDS of households can still apply for £500 worth of free cost of living cash ahead of the summer holidays. Cash-strapped families can get support via the government's Household Support Fund. 1 The scheme has been extended multiple times, with the latest round running between April 2025 and March 2026. Each council in England has been allocated a share of the £742million, which they can dole out to residents in need. Eligibility criteria varies, but help is usually offered to those on benefits or a low income. Residents in Worcestershire can apply for support worth up to £500 to help with water and energy costs. How much you receive depends on factors such as your age and if you live in a household with children. For example, households with just adults aged between 18-66 can receive up to £300 in support. This is also the case for households with one adult or a couple of pensionable age. But homes with children aged under the age of 18, or young adults up to the age of 21 in full time education, can receive up to £500. To be eligible for the support you must have an income before tax of £24,570 if you are a single adult. All other households must have a yearly income of £31,000. Families can get FREE washing machines, fridges and kids' beds or £200 payments this summer – and you can apply now You must also have no savings, unless you are of state pension age - in which case you can have up to £5,000. You can be on Universal Credit but at least one person in your household must meet one of the following: Be of state pension age Have a long-term diagnosed health condition or be registered disabled Have a child under four Be in receipt of DWP benefits like Attendance Allowance, Carer's Allowance, PIP or Disability Living Allowance Be receiving support from services such as food banks, Citizens Advice, Age UK, mental health or housing support, or your GP's social prescribing team If you are keen to apply visit What if I don't live in Worcestershire? The £742million Household Support Fund has been shared between all councils in England. So, if you don't live in this area but are struggling financially or are on benefits you will likely be eligible for help. This is because the fund was originally set up to help those on low incomes or classed as vulnerable. What type of help you can get will vary but it could range from a free cash payment to supermarket vouchers. For example, households in Ealing Council can apply for support worth £180. Elsewhere, Doncaster residents can still apply for £300 worth of support to be paid this winter. Households in Redcar & Cleveland can also now apply for support worth up to £230. Household Support Fund explained Sun Savers Editor Lana Clements explains what you need to know about the Household Support Fund. If you're battling to afford energy and water bills, food or other essential items and services, the Household Support Fund can act as a vital lifeline. The financial support is a little-known way for struggling families to get extra help with the cost of living. Every council in England has been given a share of £742million cash by the government to distribute to local low income households. Each local authority chooses how to pass on the support. Some offer vouchers whereas others give direct cash payments. In many instances, the value of support is worth hundreds of pounds to individual families. Just as the support varies between councils, so does the criteria for qualifying. Many councils offer the help to households on selected benefits or they may base help on the level of household income. The key is to get in touch with your local authority to see exactly what support is on offer. The current round runs until the end of March 2026.
Yahoo
2 hours ago
- Business
- Yahoo
Inflation hits 18-month high in Britain
The Office for National Statistics (ONS) reports that the UK Consumer Price Index (CPI) increased by 3.6% in the 12 months to June 2025, up from 3.4% in May. This marks the highest annual inflation rate since January 2024. The rise was larger than most forecasts, renewing concerns over the cost of living and complicating the Bank of England's plans for interest rate cuts. Transport and food prices were the main contributors to the inflation spike. Motor fuel prices fell less in June 2025 than in the same month last year, which pushed transport inflation higher. Air fares rose sharply – the most significant June increase since 2018 – and rail fares also added upward pressure. Meanwhile, food and non‑alcoholic beverages inflation climbed to 4.5%, its highest annual rate since February 2024, driven by rising costs of bread, meat, milk, cheese and eggs. Costs in housing and household services remain stubbornly high, though with a slight slowdown. Owner occupiers' housing costs rose by 6.4% annually in June, down from 6.7% in May. Overall, the housing component contributed nearly two percentage points to CPIH inflation, making it the largest single factor in the headline figure. Core services inflation – which excludes energy, food, alcohol and tobacco – held at around 4.7%, showing persistent price pressure in the domestic economy. This uptick in inflation comes amid predictions that the peak could reach 3.7% by autumn before gradually easing in 2026. The Bank of England, which has already cut interest rates four times since August 2024, will review its next decision on August 7; this stronger reading may prompt a more cautious approach. For households, persistent price rises continue to erode purchasing power, with food, transport and housing costs remaining the chief pressure points in the cost of living. Britons have been grappling with elevated inflation since late 2021, driven by pandemic recovery, Brexit and energy shocks. Although the current rate is well below the 11.1% peak of late 2022, it remains above the Bank's 2% target. Recent increases in bills and taxes, such as employer National Insurance contributions, have further strained household budgets. Ultimately, the June CPI report underlines that inflation remains elevated, fuelled by food, fuel and housing costs. It highlights the delicate balancing act for policymakers who must weigh the needs of struggling households against the necessity of anchoring price expectations. "Inflation hits 18-month high in Britain" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Zawya
6 hours ago
- Business
- Zawya
Cost, convenience and health: Middle East consumers are reshaping the future of food, PwC report finds
57% of regional consumers describe themselves as financially secure - above the global average 28% of consumers in the Middle East use meal kit services, nearly double the global average 49% of consumers in the Middle East cite cost of living as the most pressing national concern 38% shop regularly at local retailers, compared to the global average of 34%. Riyadh, Kingdom of Saudi Arabia – PwC Middle East today launched its Voice of the Consumer 2025: Middle East findings, revealing how consumers in Saudi Arabia, the UAE, Qatar and Egypt are rethinking what, where and how they eat. The findings point to a new consumer reality: cost-conscious decisions are now being made along with a surge in demand for wellness, personalised nutrition and smarter, tech-enabled food systems. At the core of this transformation is a regional consumer who is financially aware, culturally rooted and increasingly health focused. While almost half of the survey respondents cite cost of living as the most pressing national concern, many still make room for convenience, with 53% ordering takeaway at least once a week, well above the global average of 34%. Health is fast becoming a lifestyle driver, with 67% actively concerned about ultra-processed foods and pesticides in what they eat. The report notes a surge in wearable tech, use of health apps and openness to weight-loss prescriptions, with 9% already using GLP-1 medications such as Ozempic and Mounjaro, nearly twice the global figure. Consumers are also turning to smart solutions, with over 40% using generative AI for personalised meal and fitness plans. Norma Taki, Deals Partner and Consumer Markets Leader at PwC Middle East, stated: 'Consumers in the Middle East are redefining what they expect from the food industry. Health, convenience and trust now top the menu. At the same time, rising costs and climate pressures are challenging both consumers and companies to make smarter, more sustainable choices. Companies that thrive will be those that meet people where they are, with affordable, nutritious, tech-savvy and locally rooted solutions that fit modern lifestyles and values. This is the recipe for leadership in a dynamic and fast-evolving market.' Sustainability awareness remains strong in the Middle East, with 75% of respondents expressing concern about climate change. While environmental factors are still secondary to taste, price, and health at the point of purchase, the data suggests a consumer base that is open to more sustainable choices when paired with value and quality. PwC's research also highlights a fast-developing opportunity for convergence across food, tech and health sectors. As the region's food systems modernise and pressure mounts to reimagine supply chains, businesses have a unique chance to rethink traditional models across agriculture, retail, hospitality and healthcare. By 2035, the Middle East's evolving food and consumer industry could generate a value of US$240bn, driven by smarter resilient regional food systems that harness AI for productivity gains and embed sustainability at their core. About PwC At PwC, we help clients build trust and reinvent so they can turn complexity into competitive advantage. We're a tech-forward, people-empowered network with more than 370,000 people in 149 countries. Across audit and assurance, tax and legal, deals and consulting we help build, accelerate and sustain momentum. Find out more at With over 12,000 people across 12 countries in 30 offices, PwC Middle East combines deep regional insight with global expertise to help clients solve complex problems, drive transformation, and achieve sustained outcomes. Learn more at PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity.
Independent Singapore
6 hours ago
- Politics
- Independent Singapore
Pritam Singh announces Community Grocery Truck at Eunos to help residents with living costs
SINGAPORE: In a Facebook post on Tuesday (Jul 15), Workers' Party (WP) chief Pritam Singh wrote about a new cost-of-living support programme launched recently at Aljunied Group Representation Constituency (GRC), which his party has represented in Parliament since 2011. The Community Grocery Truck began operations at Eunos, Mr Singh's ward, on Saturday (Jul 12), with residents signing up for a S$10 package of items. Mr Singh wrote that the initiative will be held monthly and has been made possible with the help of generous donors. FB screengrab/ Aljunied GRC He explained that the Community Grocery Truck is 'prioritised for Eunos residents who are Blue CHAS (Community Health Assist Scheme) card holders (one per household). Residents pay S$10 in exchange for a range of day-to-day groceries, including fruit, eggs, rice, biscuits, bread, etc., and more, all of which cost far more than S$10 in total.' FB screengrab/ Aljunied GRC Blue CHAS cardholders are from households with a monthly income of S$1,500 or less per person, or from households with no income that own a home with an annual value of S$21,000 or less. The initiative is next scheduled for Aug 30 at 10:00 a.m., specifically for residents living at Blocks 122 to 151. Over the next 12 months, the Community Grocery Truck will go to a new precinct. 'Do keep a lookout for details which will be posted at your block noticeboards about two weeks before the truck comes around! If you are a Blue CHAS holder in Eunos, do email Team Eunos at [email protected] to register your interest!' Mr Singh — Singapore's first officially designated Leader of the Opposition — added in his post. A poster featured on the Aljunied GRC Facebook account states that recipients will receive up to 18 grocery items and canned goods, all of which are Halal-certified. The poster also asked participants to bring their own reusable bags and trolleys. FB screengrab/ Aljunied GRC The initiative can serve 100 households on a first-come, first-served basis. 'Another ground-up initiative by MP Pritam Singh and his grassroots volunteers in helping residents to address # costofliving concerns received during community events' engagements,' the post from Aljunied GRC, which showed photos of the WP team and its volunteers working on putting the goods together, noted. Many Facebook users thanked Mr Singh and the WP for the initiative, saying it would be helpful to the families in the area. 'Great Initiative. No Vouchers needed. #workingforthepeople,' wrote one. 'That's a great help to low-income households. God bless you and your team, Mr Pritam,' another added. 'Like this Community Grocery Truck. It's a great idea,' a Facebook user commented. /TISG Read also: Better support system needed for Serangoon seniors for accessing public services, says WP MP Kenneth Tiong
