Category Archives: Cost of living crisis

Groceries are getting more expensive at Woolworths but cheaper at Coles, report finds

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Choice price tracker finds cost of shopping at Aldi barely changed between March and December 2024 in quarterly assessment of 14 common items

The cost of groceries at Woolworths has gone up even when factoring in specials, while prices at Coles decreased and Aldi’s remained relatively stable, according to Choice’s latest supermarket price tracker.

The consumer advocacy group has released its fourth quarterly report, funded by the federal government, into supermarket prices, which it assesses by purchasing a basket of 14 common grocery items from different stores.

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PBS-listed medicine to cost no more than $25 a script if Labor re-elected

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Election pledge part of Albanese’s focus on cheaper medicines as a cost-of-living measure that will also help reduce inflation

A re-elected Labor government would reduce the price of PBS-listed medicines to no more than $25 a script, in a major new election pledge to be included in next week’s budget that builds on Anthony Albanese’s focus on cheaper medicines as a cost-of-living measure.

With the formal election campaign to start within weeks, where Labor will focus strongly on health as a key issue, Albanese will on Thursday deliver a major speech promising that four out of five medications on the Pharmaceutical Benefits Scheme would become cheaper under the plan which would cost the government $689m.

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Communities warned to prepare as weather system takes right turn – as it happened

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Why should Australia trust president Donald Trump, given how he’s treated Ukraine’s president at the Oval Office? Richard Marles said the government’s focus was on supporting Ukraine:

That’s where Australia lies. That’s the decision that we have to make. And Ukraine can absolutely rely on Australia’s ongoing support in their defence, and we will work with international partners.

We’ve obviously worked with the United States over the last three years, and we’ll continue to do that, but we’ve worked with the United Kingdom, and we’ll continue to do that as well, and with European partners, and look at the best way in which we can provide support.

We have established a timeline with [the] Ukrainian government about the delivery of those tanks to Ukraine. Now, for operational reasons, won’t go into the detail of that timeline.

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Australia news live: Woodside doubles profits thanks to record production of oil; funnel-web spider shortage threatens antivenom program

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Australia’s largest oil and gas producer has doubled its profits to $5.6bn. Follow today’s news live

Senate estimates will be back under way today, and AAP has flagged a little of what we can expect:

Creative Australia bosses, including the chief executive, Adrian Collette, will front an estimates hearing and it’s expected they’ll be questioned about the selection body’s shock decision to ditch the Venice Biennale team.

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Australia news live: NSW health system ‘catastrophically let down’ toddler’s family, minister admits

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Two-year-old waited in emergency department for three hours before suffering a cardiac arrest and dying. Follow today’s news headlines live

Victoria to offer contactless public transport tickets from next year

Victorians will be able to use their phones, bank cards or smartwatches to pay for public transport travel from “early next year in a staged approach”, according to reports.

Following a successful start of a ticketless bus trial in Wangaratta, the Allan Labor Government will begin switching on tap-and-go technology across Victoria’s public transport network from early next year in a staged approach – meaning some passengers will soon be able to use their bank cards, phones and smart watches to travel on full fare tickets.

The new ticketing system will continue to be underpinned by extensive technical testing and will be carefully rolled out starting with rail from the beginning early next year – allowing full fare passengers more ways to pay for their travel.

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As an election looms, will Australians remember Labor for one rate cut or the 12 hikes before that?

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The Albanese government had been sweating on the RBA decision, which clears the way for an election as soon as early April

Jim Chalmers tried to say he wasn’t taking credit for the big banks dropping their interest rates, but the sense of satisfaction – or perhaps relief – among other Labor MPs was palpable in the moments after the Reserve Bank of Australia announced its cut of 25 basis points.

Labor MPs Justine Elliot and Kristy McBain, both under pressure in tough races, tweeted “breaking” updates within two minutes of the announcement. Within a few more minutes, the likes of Jerome Laxale, Josh Wilson, Pat Conroy, Shayne Neumann, Mark Butler, Helen Polley, Tony Sheldon and the retiring Graham Perrett had also taken to their social media accounts to broadcast the news.

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Australia news live: embattled casino operator Star offered $650m lifeline; name of next cyclone changed from Anthony to avoid using PM’s name

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Hume rules out working with teals if Coalition wins 70-72 seats

Jane Hume was asked whether the Coalition was in a position to form any alliances with the crossbench, amid new polling from YouGov showing neither party looks to be coming out with a clear majority.

That would cause chaos, and would cause chaos politically and economically as well.

On average, the teals have voted with the Greens around 78% of the time, with Labor around 75% of the time, and with the Coalition around 18% of the time.

I think it’s really important to look at what people do rather than what people say. We’re planning on going to this election to win the election, because Australians deserve better than what they’ve had for the last three years.

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Labor to ban foreign investors from buying existing homes for at least two years, replicating Coalition policy

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Critics cast doubt on effectiveness of policy, citing low volume of purchases by overseas buyers, as Labor seeks to improve housing affordability

Prospective home buyers will face less competition from overseas, with Labor promising to ban foreign investors from purchasing existing homes for at least two years.

But the restriction – which replicates a policy announced by the Coalition last year – will capture less than 0.4% of the housing market, casting doubts over its efficacy.

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Share of wealth held by Australia’s poorest falls by almost 30% since 2004 – report

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Study by Monash University recommends spending increase to fix inequalities in housing, health and education

The wealth held by Australia’s bottom 40% has declined by almost a third in two decades while 3.3m live below the poverty line, a damning report into Australia’s track record on quality of life shows.

Monash University’s third Transforming Australia report, released Thursday, shows progress on more than half of the 80 indicators has stalled or is in freefall, painting a deteriorating picture of the country’s social, economic and environmental wellbeing.

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Retirees who rent ‘really struggling’ financially, researchers say – and the problem is getting worse

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Two-thirds of retirees in private rentals live in poverty, Grattan report finds, with more than half reporting net worth of less than $25,000

Two in three retirees who rent privately owned homes live in poverty and the problem will get worse, a new report has found.

Most older working Australians who rent do not have sufficient savings to keep paying rent in their retirement, according to the report from the Grattan Institute.

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Australians rack up record credit card spending as growing numbers struggle to pay off debt

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Reserve Bank statistics show the national credit card debt sits at $17.8bn, up $236m in December 2024 alone

Australians racked up a record $28bn in personal credit card transactions in December, according to new data, leaving many households unable to clear debts and paying extreme interest charges.

The Reserve Bank statistics, analysed by financial comparisons site Canstar, show that Australians are struggling to clear purchases made on credit more than ever before amid persistently high living costs.

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People with insufficient home insurance more likely to risk their lives in bushfires, experts say

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Research shows in tough times people often let home and contents insurance lapse, which could lead to dangerous decision to stay

People are more likely to risk their lives in bushfires if they are uninsured or underinsured, experts have said.

In the chaos of an approaching fire, most people struggle to make rational decisions; having no house insurance could feed into making the dangerous decision to stay and protect a home, bushfire behaviour and management professor at the University of Melbourne, Trent Penman, said.

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High food prices becoming ingrained in Australian economy, analyst warns

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Economic data shows food and beverage prices still rising faster than long-term average, even as inflationary pressures ease

High food prices are now embedded in the economy, a retail analyst has warned, after new inflation data released on Wednesday.

Egg prices surged 11% last year, and the cost of cooking oil is up 7%; lamb prices have jumped 17%, while shoppers are paying about 6% more for fruit and vegetables. Beer prices have lifted by 4%.

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Inflation data isn’t all sunshine and rainbows for Labor – as Biden and Democrats will attest

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While a pre-election rate cut is widely seen as positive for incumbent governments, it doesn’t necessarily represent a path to victory in itself

The Reserve Bank of Australia is designed to be independent of government, but that does not mean its decisions do not have political consequences.

After Wednesday’s better-than-expected inflation reading, there is now broad consensus among economists that the RBA will cut interest rates next month.

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Australia news live: Angus Taylor says cost-of-living pain ‘far from over’ despite inflation falling to three-year low

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Labor adds homelessness focus to disability strategy

Australians with disabilities experiencing homelessness will be prioritised as the government commits to disability reforms, months after a scathing royal commission into the sector, AAP reports.

For the first time, they also include a number of national actions that all governments will work on together, with the disability community, to ensure people with disability right across Australia experience the benefits.

Some students, especially those in our cities, can see a career in agriculture as something that’s only for those who live in the regions or for those whose family own land that can be used to operate an agribusiness.

AgConnections aims to break down these misconceptions and build on the diversity of the industry, by highlighting and encouraging women and Indigenous Australians wanting to pursue a career in agriculture.

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Australia’s underlying inflation rate falls to 3.2% to bolster case for RBA rate cut next month

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Consumer price index dropped to 2.4% in December quarter, according to ABS figures released on Wednesday

Australia’s underlying inflation rate has fallen to a three-year low of 3.2%, bolstering the case for a rate cut next month that would provide a dopamine hit to the government ahead of a cost-of-living election.

The Reserve Bank of Australia’s preferred inflation gauge, which strips out volatile price swings, fell to an annual 3.2% for the December quarter, down from 3.5%.

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Inflation figures to ‘make or break’ the case for an Australian pre-election February rate cut

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Release of December quarterly CPI may be the most politically consequential set of numbers in recent times

Inflation figures due out on Wednesday could “make or break” the case for a pre-election rate cut next month, according to economists, in one of the most politically consequential set of numbers of recent times.

The market is pricing in an 84% chance of a 25 basis-point rate cut when the Reserve Bank of Australia (RBA) meets mid-next month, although those odds will rise or fall based on the December quarterly consumer price index.

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Third arrest after alleged assault on police officers in Sydney – as it happened

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AFP warns parents over rise in AI-generated child abuse material

There has been an increase in the use of AI-generated child abuse material in the past year, including students creating material like deepfakes to harass or embarrass classmates, the Australian Centre to Counter Child Exploitation has said.

Children and young people are curious by nature, however, anything that depicts the abuse of someone under the age of 18 – whether that’s videos, images, drawings or stories – is child abuse material, irrespective of whether it is ‘real’ or not.

The AFP encourages all parents and guardians to have open and honest conversations with their child on this topic, particularly as AI technology continues to become increasingly accessible and integrated into platforms and products.

As a society, I think that it demonstrates the need for us to place a high value collectively on a civil political discourse, rather than an extreme one.

I wasn’t surprised to learn that of the 16 arrests, only one person was from South Australia and the rest were scattered from all over the country and for whatever reason, decided to convene in Adelaide.

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Where can Labor turn for ideas on how to win the Australian election? How about Mexico?

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The ALP could follow the Mexican example where an incumbent won an election in a cost-of-living crisis by combining radical policies with symbolic measures

Last year, as an anti-incumbent wave swept the globe, Mexico’s ruling leftwing Morena party recorded a landslide victory.

Those who study Latin American politics say the result offers lessons for Australia’s Labor government in its quest to buck the global trend and retain power at this year’s general election.

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Albanese plans cash boost for apprentice tradies amid doubts over Labor housing target

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PM to promise $10,000 payments to keep young people in construction as cost of living blamed for a shortfall in builders

Apprentice tradies stand to get an extra $10,000 from a re-elected Labor government as Anthony Albanese tries to encourage more young people into construction to help build the 1.2m homes he promised by 2030.

The prime minister will make the $626m promise at the National Press Club on Friday, in his first major speech for the year which will set out Labor’s re-election bid.

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