Chris Bowen (Prospect, Australian Labor Party, Assistant Treasurer) Share this | Hansard source

I thank the honourable member for Bass for her question. Australians have been dealing with increases in the cost of living and financial pressures for some time. Families and individuals with a mortgage have been dealing with 12 interest rate increases in a row and the highest underlying inflation in 16 years. Within those inflation figures there is cause for concern. The price of everyday, unavoidable purchases for working families has been going up even more than the average inflation rate. Inflation is concerning, of course, but, when the price of basic purchases which cannot be avoided is going up more than the average inflation rate, that is a cause for particular concern.

Since 1996 in Australia, food inflation has increased by 43.6 per cent. The price of food has gone up by 43.6 per cent.

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