The Australian Bureau of Statistics (ABS) today released its cost of living indices for the June quarter, which revealed minimal cost of living pressures across cohorts:
According to the ABS, the cost of living for households headed by working Australians rose by 1.3% in the year to June – below March’s 1.5% growth and the 1.9% increase in the Consumer Price Index (CPI).
For households headed by Australians on benefits, old age pensioners and self funded retirees the cost of living rose by 2.0% respectively over the year.
Overall, Health, Alcohol & Tobacco and Furnishings, household equipment & services were the main drivers of the rising cost of living across most cohorts, whereas Transport, Recreation & Culture, Communications, and Clothing & footwear were the main detractors:
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