The Australian Bureau of Statistics (ABS) today released its cost of living indices for the September 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 1.5% in the year to September – above June’s 1.3% growth but below the 1.8% 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 2.1%, 1.7%, and 1.6% respectively over the year.
Overall, Housing and Alcohol & Tobacco 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:
