Inflation reached 7.8 per cent in December. But figures from the Australian Bureau of Statistics show inflation has hit employee households the hardest.
Working families have experienced the steepest cost of living increases in more than two decades driven by higher mortgage costs as charities warned that increasing numbers of households are reaching crisis point with everyday expenses.
ABS head of price statistics Michelle Marquardt said that employee households were feeling more pressure due to increases in mortgage interest rates. Self-funded retirees experienced the second-largest growth in living costs, which rose 7.6 per cent over the last year. That is also the highest rate of growth since 2000.
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