Queensland Floods Drive Up Cost of Christmas Lunch for Australians
The Queensland flood crisis has caused devastating damage and has resulted in a significant increase in the prices of vegetables, fruit, and seafood, which will have a major impact on millions of Australians planning to have a festive Christmas lunch.
In addition to the current cost of living crisis, which has already led to significant price increases in food and necessities in recent years, the recent record-breaking rainfall in Far North Queensland, which caused severe flooding in many agricultural areas, has exacerbated the situation.
The heavy rain destroyed and washed away crops, while power outages caused by flooding made it impossible for farmers to preserve their harvest. The CEO of the Queensland Farmers Federation predicts that the flooding will have a catastrophic financial impact on producers and lead to a summer fruit shortage.
In addition to the impact on fruit, popular seafood products such as prawns and barramundi have also been affected by the heavy rain. The aftermath of the flooding has caused significant supply disruption for barramundi farms and other seafood producers.
A new study by Deakin University has revealed that grocery costs have risen again this Christmas, putting pressure on consumers, especially for pantry staples such as potatoes, frozen vegetables, milk, and cheese. While traditional Christmas fare such as ham and seafood are a bit cheaper than last year, prices for these items remain expensive. Chicken prices have continued to rise, posing a concern for shoppers.
In addition to the impact on fruit and vegetables, many products in the bread and dairy categories have experienced price increases of between 5 and 8 percent. Consumers are advised to plan their grocery shopping carefully and look for seasonal and cheaper food options to avoid bill shock.
According to new insights from the National Australia Bank, six in ten Australians are planning to change their spending habits this Christmas in response to rising living costs, by utilizing loyalty programs, trading down on brands or products, or taking advantage of big sales and discounts. The bank advises consumers to be mindful of their spending and take advantage of cost-saving measures during the festive season.
