cost of living Archives - Page 7 of 8 - Consumers' Federation of Australia

5 October , 2023

AER Highlights Better Outcomes but Continue Challenges

The Australian Energy Regulator’s (AER) latest State of the energy market report highlights that the energy system in 2023 experienced fewer shocks and better outcomes than in the preceding year, however many of the vulnerabilities observed in 2022 remain.

The report reveals some improved outcomes in wholesale energy markets with average wholesale electricity prices significantly lower than the record highs seen in 2022. Wholesale gas prices also declined significantly from 2022 but remain high by historical standards.

3 October , 2023

Market Forces Fail to Deliver Accessible and Affordable Childcare

The Australian Competition and Consumer Commission (ACCC) yesterday released the second interim report for their 2022-23 inquiry into childcare. Included in the report are draft findings and recommendations on the costs, profitability and viability, policy, and effectiveness of market regulations specific to the Australian childcare sector – with reference to other OECD countries which largely…

20 September , 2023

Cost-of-Living: Calls for Help and Families in Need

“We know that suicide is complex and often linked to many risk factors like personal debt, unemployment, family breakdown, social isolation, and mental health.
“Feeding the family and keeping a roof over our heads are two of the most basic human needs. While interest rates are a matter for the RBA Board, we must be prepared and proactive to prevent distress and suicide rates from continuing to rise,” said Ms Murray.

18 September , 2023

Call for Supermarkets to Help Shoppers Spot Package “shrinkflation”

QCA spokesperson, Ian Jarratt says manufacturers use shrinkflation to make “sneaky” price increases and improve or maintain their margins because most shoppers are more aware of, and sensitive to, higher selling prices than reductions in the amount in packages.

11 September , 2023

60 Day Script Change Welcomed by Consumer Advocates

Dr Deveny said the targeted program, to be implemented in three stages over 12 months, will effectively halve the cost of medicines for up to six million Australians with chronic health conditions, and result in savings for individual consumers of up to $180 every year per medicine.

30 August , 2023

ASIC Open Letter to Lenders: “Ensuring that lenders support consumers experiencing financial hardship is a priority for ASIC”

https://asic.gov.au/about-asic/news-centre/find-a-media-release/2023-releases/23-235mr-as-cost-of-living-pressures-persist-asic-calls-on-lenders-to-support-customers-in-financial-hardship/

23 August , 2023

New Gas Market Code Takes Effect

The ACCC has today published compliance and enforcement guidelines on the new Gas Market Code.

The Code commenced on 11 July this year with a two-month transition period for the gas industry to prepare for some of the new obligations that the Code establishes. The ACCC will begin enforcing the Code from mid-September 2023.

15 August , 2023

Inquiry into Price Gouging and Unfair Pricing Practices Launched by the ACTU

The Australian Council of Trade Unions (ACTU) has recently announced an inquiry into price gouging and unfair pricing practices to be chaired by Professor Allan Fells AO.

The announcement comes just after the OECD released a research report which found that “historically high corporate profits”, rather than wages, was the leading cause for inflation in Australia. With the OECD suggesting corporate profits may account for an average of 51% of inflation in recent years.

10 August , 2023

Governments Called to ‘Step Up’ to Ensure a Consumer-Focused Energy Future

Energy Consumers Australia (ECA) newly released report, Stepping Up: A Smoother Pathway to Decarbonising Homes (available here), has called on local, state/territory, and federal governments to collectively ‘step up’ and ensure everyone in Australia is supported and enabled to go all-electric. The policy report is based on research by CSIRO and Dynamic Analysis which has increased our understanding on the shared and individual costs of electrification for consumers.

2 August , 2023

Regulator acts to improve grocery unit pricing in the UK

“To assist consumers with the cost of living crisis and the high rate of grocery price inflation, the ACCC and the Federal Government should follow the UK’s example and take action now to substantially improved the quality of the unit pricing provided by Australian grocery retailers and to improve the Grocery Unit Pricing Code administered by the ACCC.”

28 July , 2023

Record Number of Financial Complaints for Second Year in a Row

“We are deeply concerned by the volume of complaints consumers are having to escalate to AFCA,” chief ombudsman David Locke says. “It’s not fair on consumers and not good for business. We need to see a significant improvement from firms.”

20 July , 2023

Buy Now Pay Later – Debt Traps and Essentials

Financial Counselling Australia’s latest report, ‘Small Loans, Big Problems’, has highlighted once more the need for urgent reform to the Buy Now Pay Later (BNPL), especially with the continued cost of living crisis and with many still feeling the impact of the 2022 floods.