Just two days before key inflation figures are released, it’s been found that the cost of basic household products and services have skyrocketed over the last decade with electricity prices rising 103 per cent and water and sewerage up a staggering 111 per cent.
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Data released by Bureau of Statistics and analysed by News Ltd shows the cost of the average basket of consumer goods bought by households rose 31 per cent over the past decade with many households experiencing even bigger rises.
Fuel prices were found to be one of the biggest strains on household budgets with prices rising 68 per cent over the last 10 years.
Gas and other household fuels went up 86 per cent.
The News Ltd analysis also found that vegetables and groceries went up 65 per cent whereas medical and hospital services skyrocketed by 85 per cent. Related: The price of your health
Getting your kid into school didn’t get any cheaper either with a 78 per cent jump in education prices. Also read: Money facts to hide from your kid
The goods that saw prices going down are the once-in-a-blue-moon purchases such as small household electrical goods – down 14 per cent – and audio, visual and computing equipment – down 80 per cent.
Costs for working households and aged pensioner households also increased faster than general inflation, up 36 per cent and 35 per cent respectively.
Also read: Tricks to live on $21 a week
However, since the aged pension is linked to wages growth and not inflation, these households still come out ahead given total wages growth of 54 per cent in the period.
Related: Australia's price rip-off
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