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.

 

  •   18 October 2023
  • 2
  •      
  •   
2 Comments
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?

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.

 

Leave a Comment:

RELATED ARTICLES

The overlooked driver of energy inflation

This 'forgotten' inflation indicator signals better times ahead

Welcome to Firstlinks Edition 597 with weekend update

banner

Most viewed in recent weeks

Why spending more in early retirement can improve lifetime income

Conventional wisdom encourages retirees to preserve superannuation. But if those likely to qualify for the Age Pension later in life spend a little more today, it may deliver higher lifetime income and a more stable retirement.

Is it time to bail on Australian stocks?

For generations, Australian investors have backed banks, miners and dividends. But has that loyalty come at a cost? A look at the numbers raises an uncomfortable question about where future returns will come from.

Meg on SMSFs: What do we think about reversionary pensions these days?

Reversionary pensions have long been a staple of SMSF estate planning, but are they still the best option? Meg Heffron revisits a once-clear favourite and asks whether changing super rules have shifted the balance.

Testamentary trusts survived the trust tax. The drafting battle has just begun.

The fight over testamentary trusts looked settled. Then the draft legislation arrived. Hidden in a technical detail is a question that could force many families to rethink wills they thought were already future-proof.

How does the 4% rule stack up?

The 4% rule has long been retirement's gold standard. But after a difficult period for investors, fresh analysis suggests a more conservative approach may significantly improve the chances of making savings last.

The new capital gains tax trap for your portfolio

Investors have long accepted one portfolio rule without much question. A major tax shift could change that calculation entirely, forcing difficult trade-offs between risk, discipline and an overlooked cost lurking beneath.

Latest Updates

Exchange traded products

It’s time for LICs to die

A high-profile dividend cut and a prominent fund manager’s apology have reignited a long-running debate. If investors can access similar exposures more cheaply and efficiently elsewhere, what exactly is keeping LICs alive?

Taxation

Will investors be better or worse off under new housing tax changes?

Housing tax reforms have sparked warnings of market turmoil and promises of greater fairness. But after modelling nearly two decades of property data, the results suggest winners and losers may not be who many investors expect.

Retirement

Three considerations before reshaping your legacy plan

Many retirees hope to leave a legacy. Proposed trust tax reforms could force families to rethink. The question is not how much to leave behind, but whether today's inheritance plans will still make sense as circumstances change.

Investment strategies

Why experienced investors still get markets wrong

Retirement is approaching. Markets are noisy. And every headline seems to demand action. The biggest investment risk isn't fear, greed or market volatility, it often arrives disguised as research and sensible risk management.

Shares

Why pay more for less?

Conditions were stacked in favour of professional investors in 2026. Most still fell short, raising questions about where investors should look for value. Meanwhile, an alternative strategy continued to make its case.

Investment strategies

Bleeding air out of the bubble

Equity valuations have fallen sharply over the past year, yet investors have largely been spared the volatility and losses that typically accompany a de-rating. What explains this unusually orderly reset? Here are five key drivers.

Strategy

Has AI gone rogue?

We worry about AI becoming conscious. But what if consciousness isn't the issue? The more unsettling possibility is a machine capable of pursuing objectives relentlessly, without motives, emotions, or awareness of any kind.

Sponsors

Alliances

  • ASA-Logo-RGB-ActiveGreen-web.png

© 2026 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.