https://www.forbes.com/advisor/au/personal-finance/cost-of-living-in-australia/It’s no secret that Australian consumers are struggling under the weight of inflation, which peaked at 7.8% last year, but remains stubbornly high at an average of 7% for the year to March.The most recent Australian Bureau of Statistics (ABS) data reveals that over the past 12 months, food and non-alcoholic beverages are up 8%, travel and accommodation has risen by 25%, and medical services are up 6.7%
. Electricity has risen by a whopping 15.5%, the largest annual rise since 2013.What these figures translate to in real terms is higher prices at the supermarket, petrol prices nudging the $2-a-litre mark, and airfares that are above pre-pandemic levels. It means that renters are paying over 20% more each week compared to a year ago, and many consumers will be faced with bill shock over winter,
with electricity prices expected to rise again by around 20% due to new maximum retailer charges set by the energy regulator.Another broken promise by Albo but the LWNJ brigade will deny such
