Behind every great marketing campaign is the risk of an even bigger downfall. ‘C'mon Aussie, C'mon’ was a powerhouse until we started bowling underarm to New Zealand. Our nation full of Happy Little Vegemites? A crowd favourite before that ‘rose on every cheek’ resulted in high-blood pressure.
And Coles’ ‘Down, Down’ campaign? Well, that was always running on borrowed time because you take one look at the trajectory of the ABS inflation data, and prices are only moving in one direction.
At least, this week’s price rise has a reason.
The cost of home brand milk across Coles, Woolies and Aldi, has risen by up to 50 cents for a 3-litre bottle, which the supermarkets say will help alleviate some of the pressure Aussie farmers have been grappling with for weeks. It’s a good reason and a small hike. We’ve got this ✊. Until, of course, everything goes and we’re staring down the barrel of multiple interest rate hikes to curb the increase in spending on essentials we have no choice but to buy.
Even the RBA had a crack on social media at explaining how inflation has seen a typical loaf of bread rise from $3 to $5 (or more). Looking at the 300+ Facebook comments, Australians didn’t appreciate the post, with one commenter saying he’d happily cop the $2 price hike to bread over an extra $200 a month on his mortgage.
Run your own race, not the banks, the supermarkets or the RBA’s. Look for price cuts, not hikes, at every opportunity: your groceries, your bills and yes, the mortgage.
The RBA might lift the cash rate again on Tuesday, but if you’re on a variable rate, you still have the right to negotiate, particularly if your mortgage rate currently starts with a 6.
