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The ABS has released cost of living indices for the March quarter, which soared on the back of rising petrol prices:
As shown above, all cohorts’ cost of living in the year ended March 2022 rose by more than the underlying inflation rate of 3.7%; although each also grew by less than headline inflation (5.1%).
Employee cost of living (3.8%) also rose by less than Age Pensioners (4.9%) and self-funded retirees (4.4%).
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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.