The cost of living crisis is forcing more consumers to find cost-saving measures such as discounts and cashbacks
PERSONAL FINANCE
With the food prices are at their highest since 2009 and no relief in sight, consumers are bracing for a ninth consecutive interest rate hike to be announced by the Reserve Bank on Thursday. Data from PwC shows that 99% of consumers are looking at adjusting their spending to save. SavvySaver has seen an increase of 230% in signups over the last three months.
Things took a turn for the worse last month after inflation increased after months of moderating from record levels in July last year. High food prices and utility and transport costs saw the headline consumer price inflation pick up for the first time since October last year to 7% year-on-year last month - up from 6.9% in January. According to Truth & BrandMapp, which provides loyalty insights, 82% of mass-market consumers use loyalty programmes.
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