NAB says Australia cost-of-living stress hits 12-year high in Q3 consumer survey
EWA•Households shift spending toward essentials
Households shifted budgets toward essentials, prioritizing value through provider switching, research, and more selective purchasing.
Resilient employment remained the main buffer, supporting spending despite pressure concentrated in groceries, utilities, and transport.
NAB consumer survey flags higher cost-of-living stress
NAB’s Q3 2026 consumer sentiment survey flagged cost-of-living stress at a 12-year high, last seen in mid-2014.
Net 81% of Australians reported higher living costs; the Consumer Stress Index rose to 60.1, above the long-run average.
Transaction data shows non-discretionary spending driving growth
Transaction data pointed to non-discretionary purchases driving spending growth, with discretionary categories still under strain.
