‘Not a happy Christmas’: Inflation and interest rate hikes crush holiday budgets

It won’t be a happy Christmas for many Australians, with the Federal Treasurer admitting it’ll be a tough time for many households.

The Age senior economics correspondent, Shane Wright, says “there’s a lot less being bought” already.

“Those interest rises have really started to eat into disposable income,” he told Ross and Russel.

Press PLAY below to hear more about the reality for households heading into the festive season