The days of cheap overseas travel and attractive online prices are over, leading economists say. With the Australian dollar falling to a 33-month low on Thursday, travel and online retail prices are expected to soar immediately.
Petrol, whitegoods and electronic equipment prices are expected to rise by up to 10 per cent.
Mr Harvey said if the dollar dropped below 80 cents compared with the US dollar, consumers should expect a 25 per cent increase
"Anything in a foreign price will go up straight away," AMP Capital's chief economist Shane Oliver said. "It's the same with online suppliers. That price, when translated, will be higher than it was six week ago."
Also, expect travel costs to increase.
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