Living Standards Falling

Friday, January 5th, 2018

Australians have endured their longest period of falling living standards in more than quarter of a century..

The sustained fall in living standards has not been seen since the 1990-91 recession.

Earnings have failed to keep up with the soaring growth in household costs with incomes dropping one-point-six percent in the year to September, after inflation and tax are taken into account.

Economists have told the Australian – almost half of the increased household costs are due to the rising price of electricity, rent, health, new housing and tobacco.

The federal government is promising some relief, by including personal income tax cuts in the May budget.

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