Register For Our Mailing List

Register to receive our free weekly newsletter including editorials.

Home / 531

Survey results: Your personal experiences with inflation

Thanks to the hundreds of readers who shared their experiences in Australia's current inflationary environment. Here is a summary of the results and extracts from your comments.

Rising living costs are keenly felt with 83% of people believing that costs are rising more than the officially-reported inflation rate.

Do you feel inflation has been higher than the official trimmed mean average of 5.75% in the last two years?

On which goods and services seem to have increased in price the most, the standout answers (selected by more than half of our respondents) were food (91%), travel (64%), insurance (78%), dining out (65%), tradies (57%), and utilities (64%).

What goods in particular seem more expensive? (multiple selections allowed)

What services in particular seem more expensive? (multiple selections allowed)

Almost three-quarters of respondents believe companies are taking advantage of the high-inflation environment.

Do you feel companies are taking advantage of the inflationary conditions?

The final question asked readers to share their more quirky and unusual anecdotes and examples of rising costs and inflation. While most comments are included in the longer report linked below, here is a sample:

  • We started the backyard vege plot and it's going gangbusters! We scour the neighbourhood for produce and share our abundance of navel oranges with anyone who comes near our front door.
  • Restaurant wine increases out of proportion.
  • An example last week, at the Grand Central shopping centre car park in Toowoomba Qld. The first 3 hours are free, however, my total time was 3 hours & 30 minutes. They charged me $2.00 for the additional 30 minutes & there was no provision to pay by cash. When I received my credit card statement I was charged $2.10. That was a 5% fee!!!!
  • Lower your standard of living. Shop around & consume less.
  • It is becoming increasingly expensive to use the convenience of digital payments as more and more outlets (service industry, hospitality, medical and so on) charge a credit card surcharge - and without prior warning.
  • I'm not one to scout about to save 6 cents a litre, but there are noticeable mark-ups of 50-60 cents a litre at some service stations. I ask you, why? 
  • Fuel surcharge on transport costs.
  • Restaurants adding weekend surcharges, also on holidays.
  • My doctor bulked billed and then changed to no bulk billing. There was no notification. You found out after the consultation. Now the medical practice is empty but you can easily get an appointment which was not the case with bulk billing.
  • Car insurance. My car is 1 year older so insured value is lower. No accidents but premium increased by over 20%.
  • Restaurants adding service fees on top of menu price rises (are we now becoming the US??) and pass through of credit card charges.

Full results and comments can be downloaded here.

 

2 Comments
Lyn
October 23, 2023

After reading full list of results/ comments where insurance increases crop up often, my decision 30 yrs ago on moral grounds to not invest in insurance companies seems justified. In floods and fires many uninsured in high risk areas when we see news and those who are insured and rightly claim, contribute to overall increase of insurance cost for all after major calamities. When one sees pictures of burned houses there is often burned tree/trees in close proximity to a home and I think, why don't they remove trees near home to minimise risk? Councils may be to blame re tree removal, there seems a disconnect between removal and risk of fire to home. I know person who took 10YEARS for approval to remove but they kept at it for 10 years to remove risk of damage to home, approval after last major fires came to their fence from council land full of tall trees. Meanwhile, cost of removal trebled to fixed income retiree. Let's not go to how councils approved homes in historical flood areas and adds to everyone's insurance cost after major calamities. Supposedly having alarms and keyed window locks gives discount re risk, time ins. companies gave extra discount for not living in flood area and no trees near the home.

George W
October 20, 2023

I'm sorry, I own a business and the charge that companies are taking advantage of inflation to raise prices is mostly bollocks. Have you seen cafes and offices in CBDs lately. They are full only 2-2.5 days a week. The knock on effects are enormous for CBD pubs and others. They need to pay exorbitant rent - how else bar raising prices are they meant to survive? And that doesn't take into account cost inflation, which is huge. I recently came off a 3-year electricity contract and the new one is up 150%. Add in minimum wages going up 7%, rent by CPI of close to 6%, and what do you think companies have to do to keep the doors open?

 

Leave a Comment:

RELATED ARTICLES

This 'forgotten' inflation indicator signals better times ahead

Welcome to Firstlinks Edition 597 with weekend update

This vital yet "forgotten" indicator of inflation holds good news

banner

Most viewed in recent weeks

16 ASX stocks to buy and hold forever, updated

This time last year, I highlighted 16 ASX stocks that investors could own indefinitely. One year on, I look at whether there should be any changes to the list of stocks as well as which companies are worth buying now. 

UniSuper’s boss flags a potential correction ahead

The CIO of Australia’s fourth largest super fund by assets, John Pearce, suggests the odds favour a flat year for markets, with the possibility of a correction of 10% or more. However, he’ll use any dip as a buying opportunity.

2025-26 super thresholds – key changes and implications

The ABS recently released figures which are used to determine key superannuation rates and thresholds that will apply from 1 July 2025. This outlines the rates and thresholds that are changing and those that aren’t.  

Is Gen X ready for retirement?

With the arrival of the new year, the first members of ‘Generation X’ turned 60, marking the start of the MTV generation’s collective journey towards retirement. Are Gen Xers and our retirement system ready for the transition?

Why the $5.4 trillion wealth transfer is a generational tragedy

The intergenerational wealth transfer, largely driven by a housing boom, exacerbates economic inequality, stifles productivity, and impedes social mobility. Solutions lie in addressing the housing problem, not taxing wealth.

What Warren Buffett isn’t saying speaks volumes

Warren Buffett's annual shareholder letter has been fixture for avid investors for decades. In his latest letter, Buffett is reticent on many key topics, but his actions rather than words are sending clear signals to investors.

Latest Updates

Investing

Designing a life, with money to spare

Are you living your life by default or by design? It strikes me that many people are doing the former and living according to others’ expectations of them, leading to poor choices including with their finances.

Investment strategies

A closer look at defensive assets for turbulent times

After the recent market slump, it's a good time to brush up on the defensive asset classes – what they are, why hold them, and how they can both deliver on your goals and increase the reliability of your desired outcomes.

Financial planning

Are lifetime income streams the answer or just the easy way out?

Lately, there's been a push by Government for lifetime income streams as a solution to retirement income challenges. We run the numbers on these products to see whether they deliver on what they promise.

Shares

Is it time to buy the Big Four banks?

The stellar run of the major ASX banks last year left many investors scratching their heads. After a recent share price pullback, has value emerged in these banks, or is it best to steer clear of them?

Investment strategies

The useful role that subordinated debt can play in your portfolio

If you’re struggling to replace the hybrid exposure in your portfolio, you’re not alone. Subordinated debt is an option, and here is a guide on what it is and how it can fit into your investment mix.

Shares

Europe is back and small caps there offer significant opportunities

Trump’s moves on tariffs, defence, and Ukraine, have awoken European Governments after a decade of lethargy. European small cap manager, Alantra Asset Management, says it could herald a new era for the continent.

Shares

Lessons from the rise and fall of founder-led companies

Founder-led companies often attract investors due to leaders' personal stakes and long-term vision. But founder presence alone does not guarantee success, and the challenge is to identify which ones will succeed in the long term.

Sponsors

Alliances

© 2025 Morningstar, Inc. All rights reserved.

Disclaimer
The data, research and opinions provided here are for information purposes; are not an offer to buy or sell a security; and are not warranted to be correct, complete or accurate. Morningstar, its affiliates, and third-party content providers are not responsible for any investment decisions, damages or losses resulting from, or related to, the data and analyses or their use. To the extent any content is general advice, it has been prepared for clients of Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892), without reference to your financial objectives, situation or needs. For more information refer to our Financial Services Guide. You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement before making any decision to invest. Past performance does not necessarily indicate a financial product’s future performance. To obtain advice tailored to your situation, contact a professional financial adviser. Articles are current as at date of publication.
This website contains information and opinions provided by third parties. Inclusion of this information does not necessarily represent Morningstar’s positions, strategies or opinions and should not be considered an endorsement by Morningstar.