Consumers are being warned to expect more hip-pocket pain, with the start of the new financial year bringing a raft of fresh price rises.
NSW residents are in for more cost-of-living pain, with the price of electricity, public transport, road tolls and mobile phone plans all set to rise.Consumer groups are advising customers to shop aroundFrom today, the default market offer for electricity will increase by between 1.7 and 8.2 per cent above inflation in NSW, south-east Queensland and South Australia.
Opal fares for public transport in NSW will increase by an average of 3 per cent starting from Monday.Telstra supplies mobile phone services to nearly half of the Australian market, according to the Australian Communications Media Authority.The chart below shows how annual electricity bills for different energy companies and plans have been affected by price fluctuations.Some customers have seen their electricity bills increase by nearly 25 per cent, or more than $20 a month.
Christine Seib, editor-in-chief of consumer product comparison website Canstar Blue, said the war in Ukraine, global coal prices and floods in parts of Australia had pushed up the wholesale price of electricity even before today's increase in the price cap. She said it was difficult to predict what would happen over the rest of the year, but most analysts expected prices to fluctuate for at least three months.
Tolls on six Sydney motorways will increase, with the cost of travelling from Bella Vista in the north-west to Wetherill Park to increase to $8.89.
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