Economic difficulties across the ditch appear to echo the struggles felt in many New Zealand households.  

The Reserve Bank of Australia has delivered a brutal reality check to the nation on the cost of living, as it expects the situation to worsen.   

It warns prices will never return to pre-pandemic levels.  

Infometrics Principal Economist Brad Olsen told Mike Hosking it's the same story here.  

He says it would be a sign of very tough economic times if businesses were cutting their prices so drastically. 

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