More than three million Australian retirees are living on a fixed income.
More than three million Australian retirees are living on a fixed income and a growing proportion is finding it increasingly difficult to make ends meet. Energy costs are exacerbating their plight, with fuel and power continuing to drive up the cost of living for all tribes – apart from the affluent couples – in the September quarter. Electricity prices rose across all households during the quarter by 8.9 per cent while gas prices rose by
5.2 per cent, according to the Australian Bureau of Statistics (ABS). The Paris-based International Energy Agency says in its annual summary that Australian households have the 11th most expensive electricity prices in the OECD, with South Australia being the most expensive state. Below are the latest costs – in weekly, monthly and annual format – to help you review, compare and plan your household expenditure.
If you would like a blank table to fill out with your own expenses, take a look at the December Retirement Affordability Index ™.