As prices go up, consumer confidence is down to its lowest level since the 2008 global financial crisis.
“That is alarming,” Chamber of Commerce and Industry WA chief executive Will Golsby told 9News.
“We’ve seen a real collapse in confidence across the community.”
A survey by the chamber found 63 per cent of consumers felt more pressure from fuel costs, compared with 27 per cent feeling the pinch from interest rates.
As a result, a third of people are cancelling or shortening travel plans, while 80 per cent are cutting back on extra spending.
“That flow-on effect to business, especially at a busy time like Easter, when travel, tourism, our regional businesses are all going to be impacted,” Golsby said.
Golsby called for extra help in the upcoming state budget.
“We think the government needs to look at transport costs – costs right across the board – household costs, electricity,” Golsby said.
WA Opposition Leader Basil Zempilas also called out the rising costs.
“We know that fish is more expensive than it’s ever been,” he said.
“We know that the price of meat at supermarkets has gone up. We know the price of fresh fruit and veggies is on the rise.”
WA Treasurer Rita Saffioti promised cost of living was at the top of the agenda but remained coy on possible announcements.
“I’ll release that on budget day but supporting households during these testing times is a number one priority of this government,” she said.
The six companies providing fuel to WA who are compelled by the energy minister’s new emergency powers have been revealed as BP, Viva, Chevron, Mobil, United and Ampol.
They’re required to provide “sensitive information” in relation to stock and distribution, or risk being fined up to $100,000 per day.
Four of them complied before the emergency powers for fuel were enacted, while two suppliers were still holding back. Their time runs out tomorrow.
“Look, they’ve been co-operative, but we want them to be more transparent,” Premier Roger Cook said.
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