Australians ‘doing it tough’: Consumer spending fell 10.2 per cent in January

Beforepay Chief Executive Jamie Twiss says Australians are “doing it tough” as consumer spending declined 10.2 per cent between December and January. The latest edition of the Beforepay Cost of Living Index shows spending decreased in all categories except utilities. “As part of the way that we do our business, we have a lot of transaction data about everyday Australians, and that’s for the artificial intelligence,” Mr Twiss told Sky News Australia. “What we’ve seen in January is that, like many years, we had a party in December, and now we’ve got the hangover. “Consumer spending fell more than 10 per cent between December and January. “It does decline every year, but that double-digit drop is higher than usual, and that shows everyday Australians are doing it tough these days.”