Working families are bearing the brunt of inflation pressures, with insurance and housing costs pushing their cost-of-living measure far higher than inflation.
The real cost of living is growing at almost double the inflation rate for millions of working families as their soaring mortgages and high insurance premiums wipe out the benefits of higher wages, tax cuts and government handouts.
“We’re aware that for some people right now, and for some businesses as well, it’s really tough,” she said. “We know some people have had to squeeze themselves very, very hard to get by.” Treasurer Jim Chalmers, speaking on ABC Radio National on Wednesday morning, refuted claims the energy rebates had limited success in pushing down inflation.
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