There is little relief on the horizon for Australians being bitten by the cost of living crisis, with swathes of bills and expenses set to increase during the new financial year. 7NEWS
FinderIt found that groceries were top of the list, followed by petrol, rent and mortgage payments and energy.The power crisis in June brought rising power bills to the forefront.
Default market offer prices increased substantially, particularly in New South Wales, southeast Queensland and South Australia - 18.3 per cent, 12.6 per cent and 9.5 per cent respectively. That equates to the average power bill in NSW rising by as much as $63 per quarter, or $252 per year.The power crisis in June brought rising power bills to the front of peoples’ minds. File image.Mortgage holders are also set for more pain, with the Reserve Bank of Australia board meeting on Tuesday.
A 2 per cent increase on the current cash rate, for the average borrower, would cost $8683 more each year, or $724 per month.Telstra’s mobile plans will be increasing by up to $4 a month.Your cookie settings are preventing this third party content from displaying.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Australia is doing more to help Ukraine than some NATO membersThe $100 million in Australian military supplies, including another 34 armoured vehicles, looks small next to the spending by the US but is significant when compared with pledges from some European countries much closer to the conflict. | ANALYSIS CroweDM
Read more »
‘Twitter is the worst!’: Actor Jessica de Gouw on being in the public eyeThe Australian star talks filming intimacy scenes during lockdown, playing flawed characters and her new relationship.
Read more »
Albanese visits war-ravaged towns in UkraineThe Australian prime minister has visited towns near Kyiv where Russia allegedly committed atrocities against civilians.
Read more »
Albanese visits war-ravaged towns in UkrainePrime Minister Anthony Albanese has visited towns near Kyiv where Russia allegedly committed atrocities against civilians
Read more »
Why are Australians worried about Roe v Wade? - ABCYour home of Australian stories, conversations and events that shape our nation.
Read more »
Australian envoy met with senior Chinese official amid renewed tensionsTop Chinese official meets Australian ambassador in the latest signs of a diplomatic thaw
Read more »