Smokes and petrol drive up cost of living

By Leith van Onselen

The Australian Bureau of Statistics (ABS) yesterday released its cost of living indices for the December quarter, which revealed a jump in cost of living pressures across most cohorts, driven by the federal government’s increase in tobacco excise (effective 1 September 2017) as well as rising petrol costs:

According to the ABS, the cost of living for households headed by working Australians rose by 2.0% in the year to December – above September’s 1.5% growth and the 1.9% increase in the Consumer Price Index (CPI).

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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.