Consumer group urges government to review cost of living after new study reveals that cost of some grocery items increases by up to 94 per cent
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A group has called for a review into the cost of living in Australia after new data revealed that some grocery items have increased up to a whopping 94 per cent in the past year.
Consumer network One Big Switch conducted research comparing the prices of products sold at Coles and Woolworths to their prices from one year ago, in a bid to show the effects of inflation on some basic staples.
It was revealed that massive price increases were observed, with the worst categories for rises including meat, pantry items, and drinks.
Drinks underwent the highest increase with a price hike of about 7.7 per cent, followed by fruits and vegetables, and pantry supplies, which garnered up to a 5 per cent increase on average.
However, the group said the "shocking price inflation" is better observed in individual products…
Inflation is taking a toll on the prices of basic commodities in supermarket stores across the country. Credit: Brad Fleet.
Data revealed that an astronomical increase of 94 per cent has been observed on the cost of Fanta sold at Coles.
Meanwhile, a 55 per cent price hike was also observed in a 2-litre bottle of Coca Cola sold in Coles and Woolworths stores nationwide.
Additional data provided by Frugl revealed price increases in the following individual items and categories:
- Kirks pack of 10 cans: 70 per cent increase
- Nescafe instant coffee products: 50 - 74 per cent increase
- Moccona instant coffee product: 50 - 74 per cent increase
- Diced beef: 22 per cent
- Beef mince: 14 per cent
- Oil products (olive, coconut, etc): 19 per cent on average
- Canned fruit: 17 per cent
- Baked beans: 21 per cent
- Tinned spaghetti: 21 per cent
Unfortunately, there is no relief in sight considering that the recent extreme weather events have created more strain on the already stressed supply chain, leading to supermarket shelves going empty more frequently.
A new study compared the prices of grocery items sold at Coles and Woolworths with the prices from last year, revealing the massive price hikes in commodities. Credit: NCA NewsWire/David Mariuz.
One Big Switch urged the government to review the official cost of living in the country as the released data by the Australian Bureau of Statistics did not reflect the "whole story" about inflation and how it is affecting the prices of basic commodities.
The latest Consumer Price Index (CPI) data reported that a basic basket of goods and services only rose by 1.9 per cent over the year to December 2021.
However, One Big Switch said that its analysis showed that on average, a 2.5 per cent increase was observed at Coles and Woolworths.
One Big Switch spokesman Joel Gibson said: “The official inflation rate of 3.5 per cent (including housing and education) in December didn’t pass the pub test for millions of Australians and this data helps to explain why."
“We’re taxing the poor. If you buy a lot of soft drinks, baked beans and beef mince, you rent in regional Australia and use daycare, your cost of living has skyrocketed.”
The group is currently launching a new campaign, urging for a review of the CPI to reflect the true cost of living in the country.
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