Posted on: 01 February 2024
South Australian families and small businesses are battling the highest inflation rate in the country, new data shows, as the cost of living crisis continues to hit budgets hard.
New Australian Bureau of Statistics (ABS) data has revealed the CPI rose 4.8 per cent over the 12 months between December 2022 and December 2023 in Adelaide, the highest rate in the country.
For the quarter between September 2023 and December 2023, the inflation rate in Adelaide was 0.7 per cent – the second highest quarterly rate on the mainland.
Shadow Treasurer Matt Cowdrey said South Australian families and small businesses continue to do it tough.
“Cost of living pressures continue to ramp up for South Australian families and small businesses and news that our state has the highest inflation rate in the country is far from good,” Mr Cowdrey said.
“It’s the little things that are hitting South Australians hard. For example, we know the price of eggs from December 2022 to December 2023 has jumped a whopping 11.9 per cent.
“But it’s not just eggs – it’s milk, bread, cereal, chicken and just about everything that has surged in price and there are so many South Australians that are trying to hold on with no relief in sight from the Malinauskas Labor Government.”
Shadow Minister for Finance and Tax Reform, Heidi Girolamo, said Peter Malinauskas must release his economic plan for South Australia.
“Let’s not forget Peter Malinauskas’ last State Budget was blown by a staggering $1.1 billion,” Ms Girolamo said.
“Peter Malinauskas’ cash splash has poured fuel on the inflation fire and his Labor’s financial decisions have hurt households and small businesses.
“We’ve been calling for some time now for Peter Malinauskas and Labor to reveal their economic plan for South Australia. If not now, when?”