The people telling Nat Barr they are cutting back on food to surviveHomeowners are also feeling the pinch, with one resident revealing they pay around $6,000 a month to cover their mortgage. 2 min read

7NEWS02-02

With inflation on the rise and experts predicting a potential Reserve Bank interest rate increase on Tuesday, one Sydney-sider has revealed she is cutting back on food to manage the soaring cost of ...

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difficult choices.WATCH THE VIDEO ABOVE: People reveal they’re cutting back on food to survive the rising cost of living.Know the news with the 7NEWS app: Download today ArrowWhen asked what they had been forced to cut back on, one woman’s response stunned the Sunrise host.“Food, gym, everything,” she said.Nat Barr, visibly shocked, replied: “You’re cutting back on food?”","collect":0,"end_time":0,"defaultTopTitle":"7news.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"CPI":"IQ Real Return ETF"},"translate_title":"那些告诉纳特·巴尔他们正在减少食物以生存的人房主也感受到了压力，一位居民透露，他们每月支付约6000美元来支付抵押贷款。2分钟阅读","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CPI":1},"content_text":"With inflation on the rise and experts predicting a potential Reserve Bank interest rate increase on Tuesday, one Sydney-sider has revealed she is cutting back on food to manage the soaring cost of living.Speaking to Sunrise host Nat Barr, they shared how inflation, rising rents, and mortgage repayments are forcing households to make increasingly difficult choices.WATCH THE VIDEO ABOVE: People reveal they’re cutting back on food to survive the rising cost of living.Know the news with the 7NEWS app: Download today ArrowWhen asked what they had been forced to cut back on, one woman’s response stunned the Sunrise host.“Food, gym, everything,” she said.Nat Barr, visibly shocked, replied: “You’re cutting back on food?”“Yeah of course,” the woman responded.The former Sydney renter revealed their weekly rent had jumped sharply in just a year.“It used to be $1,000 a week and then within one year, they raised it to $1,250 (a week), this isn’t including bills or any gas, wifi, water, nothing,” they said.Homeowners are also feeling the pinch, with one Sydney resident revealing they pay around $6,000 a month to cover their mortgage.Many said cutting back was unavoidable, with holidays and social outings mentioned on the chopping block.“I count everything,” one resident said.“There’s probably a lot more people that are declining social occasions purely for reasons of trying to save,” another said.While some said they were coping for now, concern about the future was widespread.“I’m alright, but I know people are struggling, and I know when I get older and start worrying about it, I probably will be struggling as well,” one person said.Nat Barr heads to central Sydney and asks how everyone is faring with a likely interest rate hike looming. Credit: SunriseThe prospect of another Reserve Bank interest rate hike, following an increase in inflation numbers, has only heightened anxiety.“How can it go up again? It’s already at the peak of what you think it would be,” one resident questioned“The more it goes up, the harder it’s getting. It will certainly make a bigger impact if it does,” another added.Parents also expressed fears for the next generation, with one respondent saying they were particularly worried their children would never be able to afford a home in Sydney.The suspected rate rise comes as the Consumer Price Index (CPI) rose 3.8 per cent in the year to December, and underlying inflation, which strips out volatile items, was up 3.3 per cent in the same period.With inflation outside the Reserve Bank’s target band of 2-3 per cent, economists believe the RBA’s rate-setting board will be persuaded to turn the dial up from 3.6 per cent to 3.85 per cent when they meet for the first time this year on Tuesday.‘50-50 call’: Homeowners on edge as rate decision looms1 min readHow much extra Aussie borrowers could pay as interest rate hike looms3 min read","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2608523835","isCrawlerRequest":true}