Australian Economy

Cost of living jumped in Q4

Leith van Onselen
Wednesday 3 February 2021
Advertisement

From the ABS today:

In the December 2020 quarter, all five living cost indexes rose:

  • Tobacco was the main contributor for three of the five population sub-groups due to the annual excise tax increase of 12.5% and the bi-annual excise tax increase based on Average Weekly Ordinary Time Earnings (AWOTE) indexation, both applied on 1 September 2020.
  • This was followed by domestic holiday travel and accommodation increasing across all population sub-groups following the re-opening of state and territory borders and commencement of the peak summer holiday period.

Alcohol and tobacco

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
Twitter Share
About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.