Late last month, Fidelity International produced the below chart illustrating why many Australians believe their cost of living is rising despite the low official inflation rate:
Mr Doyle analysed the cost of individual products included in CPI figures and found the cost of things that many people “need” has actually risen substantially.
For example, the cost of hospital and medical services has gone up by 195 per cent since 2000, electricity costs have jumped 194 per cent and preschool and primary education is up by 159 per cent.
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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.
