Australian consumers are expected to collectively spend $1.7 billion on hot cross buns, chocolates and other food this Easter, according to the Australian Retailers Association.
On average, families will spend $100 per head on food and chocolate for Easter Sunday preparations – and experts warn that it could get even more expensive after a string of consecutive interest rate hikes.
“I don’t think we have soon the worst of it yet, we are still seeing interest rates going up, we are seeing budgets getting tighter,” Neil Rechlin, partner at lending technology provider NextGen, said.
“I think it’s going to get worst before it gets better, unfortunately.
“I think for many it’s going to be a tough Easter”
Major supermarkets are doing what they can to make the holiday more affordable for the average Australian family, some slashing prices by 50 per cent.
Coles has 40 to 50 per cent off of their easter confectionary range and is offering a two-for-$6 deal on hot cross buns.
They are also offering discounts on some prawns, including $1.25 off of cooked black tiger prawns, totalling about $27 per kilogram.
Woolworths is also offering a two-for-$6 deal on hot cross buns, and have discounted their tiger prawns to $30 per kilogram.
There are also deals on some easter chocolates.
Aldi is offering the cheapest chocolates, starting at $1.50 each.
The discounts come after supermarkets reported record-high profits earlier in the year.
Discussion about this post