Housing, with an increase of 6.6 percent, continued to be the primary driver of the year-to-November rise in the overall cost of living.
Other notable contributors included food and non-alcoholic beverages, registering a 4.6 percent increase, insurance and financial services (excluding interest rates) experiencing an 8.8 percent surge, and alcohol and tobacco showing a 6.4 percent rise primarily fueled by soaring tobacco prices.
ABS head of price statistics Michelle Marquardt said the increase was far steeper for those who do not receive Commonwealth Rent Assistance.
“Excluding these changes to rent assistance, rents would have increased 8.8 per cent over the year to November 2023,” she noted.
“Electricity prices have risen 8.8 per cent since June 2023. Excluding the rebates, electricity prices would have increased 19.0 per cent over this period.”
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