Cost of Living Increases in Australia
Between 2000 and 2009 the average full time NET wage income increased by 5.66% every year.
During the same period, (June 2000 to June 2009), the following sample of average annual cost increases were seen:
- 4.19% Food
- 4.59% Alcohol and Tobacco
- 0.63% Clothing and Footwear
- 4.54% Housing
- 5.27% Education
Based on the CPI figures issued by the Reserve Bank of Australia (RBA) more of which can be seen in the spreadsheet at:
http://www.rba.gov.au/Statistics/Bulletin/G02hist.xls
Average Wage Increases
In May 2000, the average Male Full Time Adult wage, per statistics from www.abs.gov.au, was $882.80 per week.
This works out at an annual rate of $45,905.60, or $32,875.61 after tax at normal 1999/2000 tax rates.
In May 2009, the average Male Full Time Adult wage, per statistics from www.abs.gov.au,was $1,346.90 per week.
This works out at an annual rate of $70,038.80, or $53,976.58 after tax at normal 2008/2009 tax rates.
Although the Gross income only shows an average rise of 4.81% per year, the Net Income, due to lower tax rates, shows an average rise of 5.66% every year.
Housing Costs
The housing cost increases, shown above, include rental costs and the building cost of project homes, but not the land cost, which appears to be the major factor in property price rises.
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The CPI index in March 2008 was 162.2. Please give the figure for March 2009, and next month I would like the figure for March 2010.
many thanks, Peter
The March 2009 figure is 166.2
Full monthly figures, from 2000, can be seen at: http://www.britzinoz.com/page.php?224