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Australians have experienced substantial increases in their cost of living over the past few months. The survey results reveal that many Australians are drawing on their savings, as well as skimping on food and energy usage, with single-parent households struggling the most.
Read this article in The Conversation by Prof Guay Lim and Assoc Prof Viet Nguyen from the Melbourne Institute.
Dr Esperanza Vera-Toscano, Senior Research Fellow at the Melbourne Institute, Faculty of Business and Economics, is a member of a cross-discipline research team that recently secured funding for an ARC Linkage project.
The devastation of the pandemic has already had a marked effect on people’s mental health. Now, combined with financial pressures due to inflation and interest rates, it seems more Australians are suffering both mental and financial stress, despite unemployment levels and pandemic restrictions easing.