Cost Of Living Increase 2024 Australian Government. Relieving cost of living pressures for pensioners and income support recipients.  — the spending power of australian households has gone backwards due to the combined pressures of high inflation, high interest rates and growing income tax.

 — living costs for employee households rose 6.9 per cent in the year to the december 2023 quarter, according to the latest data from the australian bureau of. Three in five queensland families are sinking further into debt every week despite many parents skipping meals and foregoing medication.