1H24 Financial Results
The Australian economy
Cost of living challenges, inflation moderating
Inflation moderating¹
Inflation (annual change)
Goods prices lower, services prices sticky²
Inflation (annual change)
Real household disposable income falling²
Household incomes (annual change)
%
%
10
9
%
Goods
13
Quarterly CPI
Wages & salaries
8
7
6
5
Monthly CPI
4
8 3
3
2
Services
-3
1
0
Real household disposable income
-1
-2
-8
Dec 16
Dec 18
Dec 20
Dec 22
Dec 16
Dec 18
Dec 20
Dec 22
Dec 10
Dec 12
Dec 14 Dec 16 Dec 18 Dec 20
Dec 22
Due to higher tax take²
Household taxes (share of household gross income)
And higher housing debt payments¹
Housing debt servicing costs (share of disposable income)
Rising rents also a challenge for many households³
Rent (annual change)
%
19
%
10
%
Record high since May 2023
12
18
10
17
CoreLogic advertised rents
16
15
Total
5
8
6
Rent in monthly CPI
4
14
13
12
Interest
Principal
2
0
11
-2
10
0
-4
Dec 03
Dec 06 Dec 09
Dec 12
Dec 15
Dec 18 Dec 21
Dec 09
Dec 12
Dec 15
Dec 18
Dec 21
Dec 18
Dec 19
Dec 20
Dec 21
Dec 22
Dec 23
1. Source: RBA, ABS. 2. ABS. 3. Source: ABS, CoreLogic.
135View entire presentation