Latest news with #CostofLivingIndex
Sky News AU
08-07-2025
- Business
- Sky News AU
Thousands already in energy debt face further hardship as electricity bills surge across Australia
Australians are attempting to adapt to a fresh financial blow following electricity price hikes which officially kicked in on July 1, affecting millions of households nationwide. The increases announced by the country's largest electricity providers - AGL, Origin, and EnergyAustralia - are already being felt across New South Wales, Queensland, South Australia, Victoria, and the ACT, with average bills rising between $110 and $300 per year depending on the provider and state. According to the Australian Energy Regulator (AER), the cost increases follow updated default market offers and reflect higher wholesale energy prices, increased network charges, and customer service costs. With these rising prices, the AER's latest quarterly data revealed that more than 215,000 Australians are currently in energy debt - a number that rose by 7 per cent from the previous quarter, while Canstar Blue data insights director Sally Tindall said more than four million households will see their electricity prices rise. The average household energy debt now sits at $1,415, up $309 year-on-year. Shadow energy and emissions reduction minister Dan Tehan slammed the Albanese government for breaking its promise regarding rising energy bills, with the Liberal MP demanding an apology to the Australian people. 'Labor's promise that electricity prices would be $275 cheaper this year was a lie and Climate Change and Energy Minister Chris Bowen should apologise,' Mr Tehan told 'Instead, since Labor was elected, electricity prices across the National Energy Market increased by up to $1,058 in New South Wales, $684 in Queensland and $747 in South Australia. Prices are up to $1,300 more than what Labor promised they would be." Mr Tehan criticised the Energy Minister Mr Bowen stating that his only approach was disrupting the energy system and leading to higher electricity prices for Australian families. 'There is no transparency about the true costs to consumers of Labor's renewables only approach and underwriting renewable energy projects using taxpayer money,' he said. Alongside this financial increases, Anglicare Australia's 2025 Cost of Living Index paints another bleak picture for low-income earners, stating that a full-time worker on the minimum wage has just $33 left each week after rent, food, and transport. For a single parent, that number drops to just $1, even with government support. 'After paying the basics, minimum wage, workers are left with almost nothing. In many cases, there's no money left for energy bills at all,' Anglicare executive director Kasy Chambers said. 'We're seeing more people trapped in energy debt. They are skipping meals, going without heating, and falling behind on bills they'll never be able to repay.' Chambers also revealed that more than 330,000 customers collectively owe $300 million to energy retailers, with debts over $3,000 rising sharply. To address rising hardship, new regulations by the Australian Energy Market Commission will limit retailers to one price increase per year, ban most late-payment penalties, and compel companies to move vulnerable customers to their best available plans. Speaking to ABC News Radio on June 26, Australian Melissa Fisher revealed the tough choices she already has to make everyday due to the mounting pressure of her energy bill. 'If an emergency happens and I miss one payment, they can now cut me off, so that has to come before anything else. I've had to sell some stuff and not eat properly. The first thing we had to cut back on was groceries and medication,' she said. AGL customers in New South Wales are facing the steepest increases, with prices up by 13.5 per cent, adding around $267 annually for average usage. For high-use customers, the figure could climb to $300. In South Australia, bills are rising by 7.8 per cent, or $200 annually, while Queensland households will see a 7.5 per cent increase, amounting to an additional $155 per year. 'AGL is committed to supporting customers experiencing cost-of-living pressures with $85m of the $90m FY24 and FY25 Customer Support Package delivered to date, and we will continue to deliver programs to support our customers over the next 12 months,' the company said in a statement last June. Origin Energy, the country's largest retailer, is increasing market plan prices by 9.1 per cent in NSW ($216 more annually), 5.5 per cent in South Australia ($122), and 3.1 per cent in southeast Queensland ($72). Victorians will see the same increase from August 1, while gas prices in the state are already set to rise by $85 per year. EnergyAustralia customers are also facing steep rises. NSW households will be hit with an 8.7 per cent increase ($215), ACT customers face a 11.6 per cent hike ($231), Victorians will see 2.3 per cent ($47), and Queensland and South Australia will follow with increases of $53 and $73, respectively, from September 1. The average household on a default plan in NSW, southeast Queensland, and South Australia will pay up to $228 more per year as a result of the AER's revised default market offer. While the federal government has extended its $75-a-quarter energy bill relief until the end of the year, many argue that the assistance won't be enough to cushion the full impact of these hikes.
Observer
06-07-2025
- Business
- Observer
Oman ranked most affordable GCC country
Muscat: Oman has emerged as a standout destination for affordability and balanced living. According to the latest 2025 report by Numbeo, one of the world's largest crowd-sourced databases for cost of living indicators, Oman has been ranked as the most affordable country in the Gulf Cooperation Council (GCC) region, with a Cost of Living Index of 39.3 — lower than Kuwait (40.4), Saudi Arabia (41.5), and other GCC peers. The report takes into account key factors such as housing prices, food costs, transportation and basic services, comparing them to income levels and consumer spending habits. The index is widely used by expatriates, investors and analysts to assess livability across global cities and countries. Oman's leading position in affordability is attributed to a combination of factors including relatively stable rental prices, particularly in major cities such as Muscat, Suhar and Salalah, as well as the availability of locally produced goods that help buffer global inflation on essential commodities. Abdullah bin Hamoud, an economic analyst, explained: 'Oman has achieved a rare economic balance in the region by keeping the cost of living reasonable without compromising on service quality. Fuel and electricity subsidies, coupled with a steady labour market, have significantly helped reduce financial pressures on residents.' The Numbeo ranking is not just a statistical achievement — it resonates with the lived experiences of both citizens and expatriates across the country. Salim al Rashdi, a public sector employee, stated: 'Life in Oman is comfortable in terms of cost. Monthly household expenses are manageable, especially for families living in owned or subsidised homes. Basic food items like rice, oil and bread remain affordable.' Meanwhile, Laila Khan, a Pakistani national working as an accountant in Al Khuwair, said: 'Rents in Oman are considerably lower than in other GCC countries where I previously worked, such as Qatar and the UAE. Public healthcare and education services are either free or offered at minimal cost, which makes a huge difference to our family budget.' For Yaser al Hamdani, a young Omani entrepreneur, the ranking reflects a strategic advantage: 'The low cost of living is a competitive edge for Oman in attracting skilled professionals and investors. When people can live comfortably and affordably, they're more likely to stay and invest in the local economy.' Observers believe this favourable ranking can serve as a catalyst for attracting foreign investment and expanding economic opportunities in Oman. With modern infrastructure and relatively low operating costs, the Sultanate of Oman offers a compelling proposition for businesses in sectors such as tourism, education, healthcare and technology. Mohamed al Shabibi, a real estate development consultant, commented: 'Construction and operating costs are lower compared to other regional markets, and land availability is a strong incentive. The government's efforts to streamline procedures and offer investment incentives are also beginning to show results.' In addition, Oman's growing tourism sector stands to benefit from the global perception of affordability. Oman's status as the most affordable GCC country in 2025 is more than a number — it's a lived reality appreciated by residents and backed by data. As Oman continues its steady progress, guided by visionary leadership and practical reforms, it is well-positioned to not only maintain this distinction but also become a model of balanced living and inclusive prosperity in the region.
Business Insider
30-06-2025
- Business
- Business Insider
Ghana ranked 12th in Africa with highest cost of living despite inflation drop
Ghana has been ranked 12th out of 23 African countries with the highest cost of living, according to new data released by Numbeo. The country recorded a Cost of Living Index score of 30.6, with sub-indexes of 12.1 for rent and 33.3 for groceries, reflecting the pressure on consumer budgets despite recent inflation relief. Ghana ranks 12th among 23 African countries with high living costs, according to a Numbeo study. The country's Cost of Living Index is 30.6, with rent at 12.1 and groceries at 33.3. Despite high living costs, Ghana notices the fifth consecutive month of declining inflation, reaching 18.4%. Top African Countries by Cost of Living The report ranks Ethiopia as the most expensive country in Africa (43.2), followed by Botswana (39.5) and Mozambique (38.9). Others in the top 10 include Ivory Coast, Somalia, Cameroon, Mauritius, Zimbabwe, Rwanda, Zambia, and Tanzania. Inflation sees fifth consecutive decline Despite Ghana's high living costs, inflation has declined for the fifth straight month. The Ghana Statistical Service (GSS) reported that inflation fell to 18.4% in May 2025, down from 21.2% in April. The decline is largely attributed to reduced transport fares and a fall in non-food inflation. Breakdown of inflation trends Food inflation dropped to 22.8% from 25.0% the previous month. Non-food inflation recorded a sharper fall to 14.4% from 17.9%. Transport inflation saw the biggest decline, plunging from 14.9% to just 3.1%. Food remains the largest contributor to Ghana's inflation, accounting for 9.7 percentage points of the 18.4% total headline rate. Conclusion
West Australian
26-06-2025
- Business
- West Australian
Single parents on minimum wage left with just $1 for energy bills after paying for expenses
A single parent on minimum wage with one child will have just a single dollar left a week after paying for essential expenses, a report by Anglicare Australia has revealed. Anglicare's Cost of Living Index paper examined minimum wage workers and their take home pay after paying for necessities like rent, food, transport and education. For a single parent with one child, only $1 is left after paying more than $1000 each week for necessities. The figure includes Government supplements but does not include the cost of utilities. The report estimates a couple who both on minimum wage with two children would have just $5 left over per week. Even for a single minimum wage worker without children, only $33 remains each week after covering core living costs. Anglicare WA chief executive officer Philippa Boldy said the situation for people on the minimum was 'shocking'. 'Looking at the data, it's a stark reminder that many people in our communities have income so much less than the funds that they need to get by,' she said. 'With the way things are at the moment, week on week, people are falling further and further behind. 'I think everybody knows someone in our society who's been impacted by the housing crisis, and almost everyone in our community knows someone who's really feeling the pinch. 'But when you step back and consider what life looks like for all of those in our community living on minimum wage, it's really shocking.' According to Anglicare WA, just 14 properties were available and affordable for a single minimum age worker in Western Australia. Ms Boldy said long-term reform was needed. 'The most effective thing that we can do for people who are living at or below the minimum wage level or on the poverty line is to increase the income they're attempting to get by on, or to significantly reduce their costs,' she said. 'Our State and Federal Governments are investing in a wide range of temporary financial-support initiatives which essentially just temporarily prop people up; this is a sign that we know we've got a major problem on our hands. 'We are using temporary solutions to attempt to fix what's very much a long-term problem.'
Perth Now
25-06-2025
- Business
- Perth Now
‘Bleak' sum Aussies left with after expenses
A worker on the minimum wage has just $33 left over after paying for basic weekly living expenses like rent, food and transport, while a two-child family with two parents working full-time would only have $5 remaining each week, 'bleak' new research has found. Findings recorded by not-for-profit body Anglicare in its 2025 Cost of Living Index found that since 2023, a worker on the minimum wage would have $24 less left over after paying for basic expenses, largely reflecting the 'major increases in asking rents'. The situation was even more startling for single parents looking after a child. The report states that they would have just $1 left over for bills and discretionary expenses, even with social supports like the Family Tax Benefit and the Commonwealth Rent Assistance, which would beef-up their budget by $227. Anglicare Australia executive director Kasy Chambers said the results of the Cost of Living Index were 'bleak,' and said low-earning Australians were struggling to put money away for bills. Her comments highlight findings from Anglicare which 331,750 Australians have accrued more than $300m in energy debt. The number of households with unpaid electricity and gas bills totalling over $3000 had also surged by 11.8 per cent year-on-year. 'After paying for the basics, minimum wage workers are left with almost nothing. In many cases, there's no money left for energy bills at all,' she said. 'We're seeing more people trapped in energy debt. They are skipping meals, going without heating, and falling behind on bills they'll never be able to repay.' Single parents with kids would have just $1 left over for bills and discretionary expenses, even with social supports. NewsWire/ Nicholas Eagar Credit: NewsWire The report noted that despite hardship programs offered by retailers, the system needed 'structural reform,' with struggling households unable to 'pay what they do not have'. Ms Chambers said low-earning Aussies were being 'forced into payment plans they can't sustain,' and called on the government to provide new energy debt relief for people in hardship. 'People are forced into payment plans they can't sustain. They carry energy debt from one bill to the next with no chance of catching up, even though energy retailers are making record profits,' she said. 'Energy is not a luxury. It is essential to running a household, staying healthy, and living with dignity. It's time to rein in profiteering and make sure no one is left in the dark.' Substantial increases in rent were a key reason for the reduced amount of disposable income for low paid workers. NewsWire / Andrew Henshaw Credit: News Corp Australia The report also made a series of recommendations targeting the escalating grocery costs, rent increases and increasing support for households in energy debt. Among them include expanding home energy upgrades like rooftop solar and batteries, or insulating to provide long-term support, Commonwealth pressure on states and territories to introduce caps on rental increases, a commitment to boosting social and affordable housing by 25,000 homes a year, and rules on manning excessive pricing by supermarket giants.
