Cost of Living Crisis Worsened in Past 12 Months: Report

The cost of living crisis has intensified in the last 12 months as most Australians paid more for essential goods and services, a new study has shown. Monash University’s business school has released a new report (pdf) that provides a snapshot of what Australians perceived about living costs in the past year and the changes in their spending habits. Lead researcher Eloise Zoppos said the the cost of living crisis was worsening for Australians, as most consumers felt necessities got more expensive. “Our research found that over half of Australians (69 percent) feel that groceries and grocery-related products cost more at the time of the survey than at the same time last year, and a similar sentiment was evident when it comes to housing costs, including rent, mortgage repayments and utility bills, and insurance prices,” she said....