The SAS-NATSEM Household Budget Report shows Australia’s living standards continued to increase during the quarter to end-March 2015, although at a slower rate than in the previous quarter. Household incomes grew slightly while the cost of living was flat.
The living standards increase was just 0.2 per cent during the three months and 1.2 per cent for the year to end-March. Household incomes grew 0.2 per cent for the quarter against 1.9 per cent for the year, while cost of living growth was just 0.7 per cent over the 12 months and flat for the quarter.
Along with today’s SAS-NATSEM report for Q1-2015, a separate exercise threw up some interesting insights into variances experienced by different age groups over recent decades. It was found that households headed by under-35s enjoyed living standard increases of 58.4 per cent between 1988 and 2011 compared with 52 per cent for 35 to 49 year-olds.