SENATOR DEAN SMITH
SHADOW ASSISTANT MINISTER FOR COMPETITION, CHARITIES AND TREASURY
SENATOR FOR WESTERN AUSTRALIA
MEDIA RELEASE
9 December 2024
PERTH TOPS PRICE INCREASES ON MORE THAN 40 GOODS AND SERVICES
A comprehensive analysis of ABS data has highlighted the record impact Labor’s rising cost-of-living is having on Western Australians.
It reveals for the first time that the cost of more than 40 everyday goods and services increased at a faster rate in Perth than in the rest of Australia.
This analysis of CPI figures from the ABS was undertaken by the Federal Parliamentary Library for Senator Dean Smith.
It provides a unique insight into price increases in Perth between the March 2021 and September 2024 financial quarters—the majority of this time period, and higher average inflation, occurring under Labor.
In the period covering the March 2021 quarter until the election of the Albanese Government in May 2022, the average national CPI increase was 3 percent.
By contrast, in the period from Labor’s election to the September 2024 quarter, the average national CPI increase was 5.3 percent, peaking at 7.8 percent.
Anthony Albanese promised in Perth before the 2022 election that life would be cheaper under Labor—instead, the average quarterly increase in inflation has been almost double that during the last year of the Coalition Government.
The CPI “All groups measured” figure during this time increased by 19.5 percent in Perth, compared to 18 percent nationally.
To put the impact of the 19.5 percent Perth CPI increase into context, it outpaced a 13.9 percent increase in average weekly full-time earnings.
Everyone is now aware of the huge increases in housing costs in Perth—35.1 percent compared to 24.2 percent nationally—this new analysis from the Parliamentary Library confirms rises in the cost of many goods and services since March 2021 were even greater.
Insurance costs, for example, increased by a massive 49.4 percent over the same period. The national increase was far lower at 38.9 percent.
Basic foodstuffs have risen significantly—a clear indication of the toll the cost-of-living crisis is taking at the most basic level.
Both a loaf of bread and bottle of milk in Perth jumped in price by more than 25 percent.
Bread increased by 26.1 percent and milk by 25.7 percent, which was again the highest price growth rate in Australia.
Families have faced a jump in key items, with footwear for infants and children up 5.1 percent, clothing services up 11.3 percent, and preschool and primary education, up 11.9 percent.
That comes on top of everyday household expenses, including furniture and small electric household appliances, which have risen 19 percent and 10.3 percent respectively.
It highlights in the simplest terms how inflationary pressures under the Albanese Government have impacted prices—and, once again that Western Australians are uniquely affected.
At the supermarket checkout, providing medical care their family, or when they try to insure their property, this is the collective price being paid for Labor and its economic mismanagement.
Quotes attributable to Senator Dean Smith:
“The majority of this damage has been done by Labor and Western Australians should demand Anthony Albanese explain why he has broken his promise that we’d be better off under his government and left us in such a dire situation.”
“This new data analysis leaves no doubt—if any still remains—that everyday costs have skyrocketed under Anthony Albanese and Labor.”
“It is no wonder that many in Perth are struggling to make ends meet when the costs of staple items like bread and milk are outpacing not only the national average, but the average growth in full time ordinary earnings.”
ENDS
