Although not surging as high as in other countries at 5.1%, Australia's inflation rate is outstripping wage growth (2.3%) meaning people have less money in their pockets every month.
Australia's Reserve Bank (RBA) increased interest rates (by 0.25% to 0.35%) for the first time in more than 11 years.
It is estimated that 300,000 Australians could default on their mortgages as repayments increase.
Australia election 2022: Cost of living worries voters - BBC News
Post a Comment