Australia might not be in a recession but households are about to feel as though they are

‘Australian household spending is about half of the entire country’s economy.’ Photograph: Joel Carrett/AAP

It is a good time to be a big grocery company, or a mining company, or a travel company, or a bank or … well, let’s be honest: as the Bureau of Statistics reported when inflation took off at the start of last year, “Australian businesses benefited from rising prices.”

And they have continued to benefit in the year that has followed.