Consumer Spending Habits Reflect Caution

Consumer spending habits have shifted with a focus on necessities rather than big-ticket items. While spending on groceries has increased, spending on other non-essential items has decreased. This cautious approach is driven by inflation and the cost of living crisis. However, there is a hint of optimism as people anticipate improvement next year, particularly with the upcoming elections. The influx of migrants into the country has added to the demand for housing and other goods, putting pressure on the housing market. The supply side issues in housing present a challenge as infrastructure and housing shortage persist.