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

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

Australian stocks will crush housing over the next decade, 2025 edition

Two years ago, I wrote an article suggesting that the odds favoured ASX shares easily outperforming residential property over the next decade. Here’s an update on where things stand today.

Building a lazy ETF portfolio in 2026

What are the best ways to build a simple portfolio from scratch? I’ve addressed this issue before but think it’s worth revisiting given markets and the world have since changed, throwing up new challenges and things to consider.

Get set for a bumpy 2026

At this time last year, I forecast that 2025 would likely be a positive year given strong economic prospects and disinflation. The outlook for this year is less clear cut and here is what investors should do.

Meg on SMSFs: First glimpse of revised Division 296 tax

Treasury has released draft legislation for a new version of the controversial $3 million super tax. It's a significant improvement on the original proposal but there are some stings in the tail.

Property versus shares - a practical guide for investors

I’ve been comparing property and shares for decades and while both have their place, the differences are stark. When tax, costs, and liquidity are weighed, property looks less compelling than its reputation suggests.

10 fearless forecasts for 2026

The predictions include dividends will outstrip growth as a source of Australian equity returns, US market performance will be underwhelming, while US government bonds will beat gold.

Latest Updates

Economy

Ray Dalio on 2025’s real story, Trump, and what’s next

The renowned investor says 2025’s real story wasn’t AI or US stocks but the shift away from American assets and a collapse in the value of money. And he outlines how to best position portfolios for what’s ahead.

Superannuation

No, Division 296 does not tax franking credits twice

Claims that Division 296 double-taxes franking credits misunderstand imputation: franking credits are SMSF income, not company tax, and ensure earnings are taxed once at the correct rate.

Investment strategies

Who will get left holding the banks?

For the first time in decades, the Big 4 banks have real competition in home loans. Macquarie is quickly gain market share, which threatens both the earnings and dividends of the major banks in the years ahead.

Investment strategies

AI economic scenarios: revolutionary growth, or recessionary bubble?

Investor focus is turning increasingly to AI-related risks: is it a bubble about to burst, tipping the US into recession? Or is it the onset of a third industrial revolution? And what would either scenario mean for markets?

Investment strategies

The long-term case for compounders

Cyclical stocks surge in upswings but falter in downturns. Compounders - reliable, scalable, resilient businesses - offer smoother, superior returns over the full investment cycle for patient investors.

Property

AREITs are not as passive as you may think

A-REITs are often viewed as passive rental vehicles, but today’s index tells a different story. Development and funds management now dominate earnings, materially increasing volatility and risk for the sector.

Australia’s quiet dairy boom — and the investment opportunity

Dairy farming offers real asset exposure, steady income and long-term growth, yet remains overlooked by investors seeking diversification beyond traditional asset classes.

Sponsors

Alliances

© 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.