Tracking tribes’ cost-of-living increases

Cash-Strapped Couples and Singles and Constrained Singles bear the brunt of cost-of-living increases in the December quarter.

Tracking tribes’ cost-of-living increases

The Retirement Affordability Index continues to track living costs as they relate to the six retirement tribes – even as the world implements strategies and restrictions to steer economies and communities through the coronavirus pandemic.

In the December quarter, Cash-Strapped Couples and Singles and Constrained Singles bore the brunt of cost-of-living increases with a rise of 0.6 per cent. Constrained and Affluent Couples and Singles saw increases of 0.5 per cent for the quarter.

The big contributors were food (led by fruit, which was up 6.8 per cent due to the drought at that time) and transport (led by automotive fuel up 4.4 per cent).

Cash-Strapped and Constrained tribes, which spend more on food, were hit harder by the rise in food prices.

Affluent tribes, which spend more on transport, were hit harder by the increase in transport costs.

There were small falls in international holiday and accommodation (-2.9 per cent) and garments for women (-2.5 per cent).

And in good news for the current ‘apocalypse’, wine has fallen in price by 1.6 per cent. The uncertainty around our future will be so much easier to navigate with a glass or two of wine.

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    19th Apr 2020
    Interesting to see the same table after the current Corona crisis, transport and travel will be significantly different for a start. 95c petrol where we live and nowhere to go will be a start to correction. Food prices started to rise already and we have only seen the beginning.
    19th Apr 2020
    Quite a lot of items have risen in price by about 30-50%, compared to before Covid19. I shop every 2-3 days and used to spend about $30, now closer to $50 for the same things, pretty much. How is this justified? with the Age Pension my only income, and my stimulus package long gone on urgent house repairs, I will be forced to eat less and lose weight I guess! At least fuel is cheaper, but as I can't go anywhere it doesn't really help.
    19th Apr 2020
    Fuel is 95c a litre and nowhere to go, patti. Border is 400 metres away and I should not go across it. If you have ALDI near you try them, prices there have gone up but as much.

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