Monday 3 October 2022 10:57 PM Australia's cost of living crisis: Double Bay shoppers tell how inflation is ... trends now
Skyrocketing Pilates bills, 'jaw-dropping' grocery costs and a vow to buy fewer pairs of shoes - this is how locals in one of Australia's most affluent suburbs are grappling with the cost of living crisis.
Residents in the Sydney eastern suburb of Double Bay - sometimes known as 'Double Pay' because of its wealthy demographic and high prices - have shared with Daily Mail Australia how they're dealing with inflation.
Inflation jumped by 7 per cent in the year to July, the fastest pace since December 1990, with supply chain issues, widespread flooding and the war in Ukraine driving up prices.
Grocery and utility bills are surging as the Federal government's fuel excise relief came to an end this week - sending petrol prices jumping by around 22c per litre - while interest rates continue to climb.
The RBA is expected to announce its sixth rate hike today, with a predicted 0.5 per cent rise.
This would take interest rates from a record low of 0.1 per cent from earlier in the year to a nine-year high of 2.85 per cent.
Some economists have even predicted that rates could go as high as 4.2 per cent by the middle of next year.
While many low-paid Australians struggle to make ends meet, Double Bay locals - a suburb which has a median weekly household income of $2,478 - say they too are feeling the crunch.
Chloe said she has noticed a jump in grocery prices and has started going out less
Deborah said younger generations could save more money if they start tightening their wallets
Speaking to Daily Mail Australia, local and retired nurse Deborah said skyrocketing electricity prices were 'outrageous'.
'I live on my own, so I am very conscious of making sure things are turned off,' she said.
'My ex-husband, he lives in Pymble and his electricity bill was $1,000 because there has been so much rain so he leaves the heaters on so that the mould doesn't come back.'
The 68-year-old said she will often travel to Redfern, in the city's inner-west, to capitalise on the suburb's cheaper petrol prices and that many of her friends have been using apps to find the cheapest bowsers nearby.
She has also noticed businesses have been jacking up the prices of services, including her gym where she does Pilates three times a week.
'They have put the classes up from $20 and hour to $30 and I said [to staff] "hey - that is double dipping - you are paying a wage to the staff plus we are paying you on top, so I am not paying it",' she said.
'And they told me it was because they were losing staff because they couldn't get to work. It is called a bus. If she wants to get an Uber, that is not my problem.'
Although remaining budget conscious, Deborah said she is doing OK compared to other people and has noticed a general 'apathy and depression' among Australians amid the rising cost of living.
Deborah said grocery prices in Sydney's eastern suburbs were more expensive than other lower-earning areas of the city.
Double Bay, a harbourside suburb in Sydney's east, has a median weekly household income of $2,478
Natalie said she and her husband were being more budget conscious as they live off one income
One woman, who wished to not be named, said that she had recently felt the impact of rising petrol prices
She said she has seen people's 'jaws drop' when they visit from western Sydney, with some recently telling her they would never do their supermarket shopping in Double Bay due to the inflated prices.
However, she believes younger generations could get on top of their finances if they made lifestyle changes, like cutting down on takeaway food, refraining from buying excessively and picking up extra work.
'I think people really have to start watching their diet,' Deborah said.
'How many delivery drivers do you see driving around? They are a pain in the a***. But why? Because people won't cook. They are lazy. My neighbour UberEats his coffee.
'And people are now buying ready-made meals. If you don't have time to cook - it's called making time.'
Deborah said she was sick of hearing that younger generations are struggling to save up a deposit to secure their first home - and that there is no excuse.
'If I hear my ex-husband say one more time "Young kids will never be able to afford a home" - no. It is because every time there is a new phone [or electronic device] they are around the block [waiting to buy it],' she said.
'If it ain't broke, don't fix it.
Katelin and Jonathan said they have been budgeting and have started limiting how often they go out
Another woman said her Range Rover was 'costing her a fortunate' despite her 'hardly driving it'
'And the attitude of kids towards their parents that
