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The New Daily
The New Daily
Business
Matthew Elmas

‘Mighty’ shoppers drive the economy as millions splurge before Christmas

Economy Cherelle Murphy Nicki Hutley Australia Post Callam Pickering Gary Mortimer Inflation RBA
The strength of consumer spending is surprising experts, but a "reckoning" looms. Photo: TND

The strength of consumer spending before Christmas has many economists scratching their heads.

Inflation has soared and the record-breaking run of interest rate hikes that have followed are squeezing families – mortgage, grocery and power bills have risen by hundreds of dollars.

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