Australia’s cost of living crisis pales in comparison to UK, Singapore and around the globe

In the US a coffee can set you back $8.

What is the message here? The LNP left us better off than the rest of the world? Casualisation of Labor hasn’t hurt us it’s given us more play time? That Australians are better off than most other countries our form of Capitalism works? Shut up and stop whining? The poor are better off here than elsewhere?

A global comparison isn’t a measure of how you feel. Do we feel better now than we did after a decade of LNP government? We need to slice and dice the very diverse Australian population to find that out and a global comparison of a cup of coffee won’t help answer that.

But while Aussie shoppers are suffering, CommSec’s chief economist Craig James, says our cost of living pales in comparison with some other nations. “I don’t believe cost of living is worse here,” says James. “The standard of living must be equated with the cost of living and Aussies have a very high standard of living and costs, in comparison, are relatively cheap.”

Source: Australia’s cost of living crisis pales in comparison to UK, Singapore and around the globe