The Australian Bureau of Statistics (ABS) has released its cost of living indices for the June quarter, which revealed a rise in cost of living pressures across most cohorts:
According to the ABS, the cost of living for households headed by working Australians rose by 2.3% in the year to June – above both the 2.1% increase in the Consumer Price Index (CPI) and the 2.1% increase in Australian wages.
For households headed by Australians on benefits, old age pensioners and self funded retirees the cost of living rose by 2.5%, 2.2%, and 2.0% respectively over the year.
Transport, Alcohol & Tobacco, and Clothing & Footwear were the main drivers of the rising cost of living across most cohorts. By contrast, Communication and Food and non-alcoholic beverages were the main detractors:
