All they want for Christmas

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High inflation since the middle of 2021 has led to rising cost-of-living pressures as incomes have failed to keep up with prices. 

New analysis for this report by Impact Economics and Policy shows that while headline inflation has fallen to 2.8 per cent, the living costs growth for families with children remains high. 

Over the 12 months to September 2024, Impact Economics and Policy estimates that the increases in the living cost indexes for families with the youngest child aged under five (6.1 per cent) and the youngest child aged 5-14 (5.8 per cent) were above the increases for employee households (4.7 per cent) and self-funded retirees (2.8 per cent).

Since mid-2021 the living cost index increases for families with the youngest child under five (27.1 per cent) and the youngest child aged 5-14 (28.0 per cent) have also been well above increases for employee households (21.8 per cent) and self-funded retirees (15.5 per cent). 

The report featured on the Today Show and ABC News Breakfast.

November 2024