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 all five cohorts:
According to the ABS, the cost of living for households headed by working Australians rose by 1.6% in the year to June – the same as the 1.6% 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 1.9%, 1.9%, and 2.0% respectively over the year.
Transport (petrol prices) was by far the main driver of the rising cost of living across all cohorts. By contrast, Communication was the main detractor: