South Australians in survival mode as $16,886 extra a year hits home in cost of living crisis

South Australians in survival mode as $16,886 extra a year hits home in cost of living crisis

Posted on: 13 April 2023

Struggling South Australian families overwhelmed by the cost of living crisis face the prospect of finding more than an extra $16,000 a year to combat rising prices, new analysis has revealed.

The Opposition has crunched the numbers on skyrocketing prices for housing, food, electricity, petrol, and other essentials for a family of four - comparing prices between March 2022 and March 2023.

The calculations - based off inflation - relate to an average family of four including two children aged eight and 12 who attend a public school. Mum and Dad work full-time and earn an average weekly salary, sharing the cost of a mortgage of $500,000.

The family has private health insurance, two cars, RAA memberships, streaming services, internet, and three mobile devices. They also have summer and winter sports club memberships and travel domestically once a year.

Shadow Treasurer Matt Cowdrey said cost of living has blown out “pushing families to the brink” with next to no support from the Malinauskas Labor Government.

“The analysis shows average families are now paying $16,886 extra each year when compared to cost of living figures from 12 months ago,” Mr Cowdrey said.

“That whopping increase equates to an extra $324 a week and has forced South Australians into survival mode as budgets become tighter and tighter by the day.

“There is a clear need for the Malinauskas Labor Government to provide more support across the board because rising prices are showing no signs of slowing down and a few extra dollars can become the difference between food being put on the table.”

Shadow Minister for Finance Heidi Girolamo said further increases in cost of living will push some families below the poverty line.

“There has been some cost of living relief for low income earners, but if we don’t see broader support more families will slip into that category and the need will become far greater,” Mrs Girolamo said.

“We can’t afford to let that happen and if the Malinauskas Labor Government fails to provide more widespread support in its upcoming Budget the consequences for South Australian families could be devastating.

“We already know there are a record number of homeless people in South Australia, children going to school without food, and cases where people refuse to run basics like air conditioning and heating because it costs too much.”