Global Scans · Cost of Living · Weekly Summary

• [New] More than eight million households across the UK, including 686,000 in Scotland, will receive the final part of the £900 means-tested cost of living payment from tomorrow. Daily Record
• [New] Growth in the Australian economy is expected to remain below trend over the year ahead as cost-of-living pressures and higher interest rates continue to weigh on demand; GDP per capita is expected to decline over 2023 (Graph 5.4). Reserve Bank of Australia
• The richest half of Britain is likely to see incomes rise in the next financial year, but poorer households will see income falls, as targeted cost of living support comes to an end. Resolution Foundation
• The effect of rising mortgage and rent bills, combined with the end of cost of living payments, meant that the richest half of households are set to see their incomes rise in 2024, while the poorest households will see income falls. The Guardian
• Despite the cost-of-living requirement aligning with expenses in other popular study destinations, Canada maintains its distinction as a premier choice, providing world-class education, diverse programs, and abundant financial aid opportunities. Evisaimmigration
• Phnom Penh has a low cost of living but offers good job opportunities, especially in tourism, education, and business services. arisecambodia.com
• The inflated shipping and insurance costs could reignite the cost-of-living crisis and force the Bank of England to act. FootAnstey
• The Bank of England risks making the UK's recession worse unless it cuts interest rates soon to ease the pressure on households amid the cost of living crisis, its former chief economist has warned. The Guardian
• South Africans will be eager to hear concrete plans for economic growth, job creation, and measures to tackle the cost of living. Gauteng News
• The latest inflation figures will be a huge disappointment to Rishi Sunak, as they will be to millions of households across the UK who long for the cost of living crisis to end. The Guardian
• The cost of living could further rise in the next three months, the Central Bank of Kenya has indicated, piling more pressure on already struggling households. The Star
• The cost of living payment will benefit more than 680,000 households in Scotland, more than 400,000 in Wales and 300,000 in Northern Ireland on means-tested benefits. The Guardian
• The return of student debt payments in the United States will add more financial stress and impede spending at a time when many consumers are struggling with the higher cost of living. Deloitte Insights
• Across Europe many will be feeling battered by the cost of living crisis, emotionally fatigued by escalating war, and overwhelmed by the ever-looming threat of the climate crisis. CityAM
• In South Africa, the cost of living might vary widely, but it can be surprisingly reasonable for students who are pursuing their education at a distance. Leverage Edu
• The Bonza Effect will bring more considerable savings to domestic travelers in 2024, particularly as many Australians are still battling with the high cost of living pressures that have endured since early last year. Simple Flying
• Cost of living pressures and NHS backlogs are creating a two-tier health service in England, where people who cannot afford to pay wait longer for care, warns a watchdog. Healthcare Skills Training International
• Nigerians should expect respite on the cost of living crisis as analysts see the pressure easing in 2024 compared to the previous year. Businessday NG
• The cost of living crisis cast a gloom over 2023 and, as inflation slows, residents and businesses alike will be hoping for a sunnier outlook in 2024. CityAM
• This year will be the year of reckoning for startups across the Middle East and North Africa as global inflation continues to rise and the cost of living impacts purchasing power. Wamda
• There are numerous reasons to expect consumer spending growth to slow in 2024: targeted subsidy rationalization, high cost of living and inflation risk as well as higher service tax rate for some services. Focus Malaysia
• Economic think-tank the Resolution Foundation said in a recent assessment that people who have seen the price of everyday essentials shoot up during the cost of living crisis can expect some relief in 2024 as costs come down. Yahoo News

Last updated: 21 April 2024