Cost of living has risen for all groups by between 4.6 and 5.2 per cent

Cost of living has risen for all groups by between 4.6 and 5.2 per cent

Cost of living has risen for all groups by between 4.6 and 5.2 per cent

Inflation raised the cost of living across four household types in the June quarter, with higher transport and food costs the biggest contributor, statistics show.

The Australian Bureau of Statistics’ Living Cost Indexes, released on Wednesday, showed the cost of living for employees and self-funded retirees rose 1.5 per cent in the second quarter.

Pensioners and beneficiaries faced a smaller 1.3 per cent rise because healthcare costs declined over the three-month span, in part because more consumers qualified for Pharmaceutical Benefits Scheme subsidies.

Over the 12 months to June the cost of living has risen for all groups by between 4.6 and 5.2 per cent, the ABS said.

Flooding, rising freight costs and supply chain disruptions raised the cost of food by two per cent in the June quarter, with the prices of fruit and vegetables jumping the most.

Transport costs were up 2.3 per cent in the June quarter, compared to March, as global sanctions on Russian oil lifted fuel prices. As calculated by the ABS, the price of automotive fuel is up 32 per cent from a year ago.

 

Derek Rose
(Australian Associated Press)