As well as having to spend an extra $100 a week on groceries, increases in the cost of things like insurance are hitting hard. "I've had to cancel my car insurance. Justin Lim, chief executive of comparison site Quashed, said the rate of increase in insurance premiums was accelerating. Premiums for insurance policies quoted on the site were up 40% for both comprehensive and third-party car insurance and up 25% for house and contents, year-on-year, he said. Consumer data found an increase of 38% in car insurance premiums between 2021 and October 2023.

Source: Stuff May 27, 2024 00:54 UTC