Today’s monthly Consumer Price Index (CPI) data has confirmed Australians are in for a difficult and expensive Christmas.
Inflation in Australia remains far too high, with core inflation at 5.3%.
The cost of everyday essentials continues to go up and up.
In the last year, the price of fuel has gone up 8.6%. Food and drink are up by 5.3%. Electricity is up 10.1%, while gas has gone up by 13%.
Australians are facing a very tough holiday period, and many families will be forced to have difficult conversations about what they can and can’t afford.
Shadow Treasurer Angus Taylor said hardworking families are continuing to pay the price for a distracted government.
“Inflation has become a home grown tax on everything,” he said.
“No matter what the Prime Minister and Treasurer try to tell us, Australians know they’re going backwards under the Albanese Labor Government.
“Real wages are going backwards. That means your pay packet is buying less than it could a year ago. In fact, analysis of OECD data shows living standards have fallen the most in Australia than any other comparable country.
“Hardworking Australians are paying the price for this distracted government.”
Shadow Finance Minister Senator Jane Hume said it is going to be a tough Christmas for hardworking Australian families this year.
“Australians are making tough decisions about their household budgets right now, and they’re doing everything in their power to try to make ends meet,” she said.
“Charities are telling us they’re seeing more and more double incomes families seeking assistance because of the financial pain Labor’s high inflation is inflicting.
“Labor have waved the white flag on coming up with a plan to tackle inflation. They are simply relying on a hope and a prayer.
“It’s time for Jim Chalmers and Katy Gallagher to make some tough decisions about their own budget, take control of the fiscal reins and reduce their spending.”