Which groceries have seen the biggest price increase?

Despite the hustle and bustle of Boxing Day shopping, recent data has revealed that consumers are facing significant price increases in their everyday purchases. This has become a major headache for the federal government, as they try to navigate the impact of these rising costs. According to analysis from the Parliamentary Library in Canberra, the cost of many items in our shopping trolleys has gone up in the two-and-a-half years since the last election.

Some of the biggest increases have been seen in items like eggs, which have gone up by a staggering 28.6%, and bread, which has increased by 22.7%. Even in the dairy aisle, the prices of milk and cheese have risen by around 20%. And it's not just food that has been affected - fresh fruit and breakfast cereals have also seen significant price hikes of 20.4% and 20.2%, respectively. The only saving grace for meat eaters is that the cost of red meat, including lamb and beef, has actually gone down by 6%.

Unfortunately, the impact of these rising prices isn't limited to our grocery bills. Insurance costs have gone up by a whopping 34.1%, and those planning an overseas holiday may need to reconsider, as international travel and accommodation prices have increased by a staggering 50.7%. However, there is some relief in the form of lower petrol prices, and childcare costs have remained relatively steady.

In an effort to address these concerns, the government is putting pressure on supermarkets to keep prices in check. Additionally, Federal Labor has introduced $300 rebates on electricity, which has helped to bring down power bills in recent months. Despite these efforts, the rising cost of living is still impacting the Labor government, particularly with a key demographic - those aged between 35-49. This group, who are likely to be struggling with mortgage payments and high interest rates, has been steadily moving towards the Coalition in recent months, potentially attributing the blame to the government.

As we approach the next election, the state of New South Wales is becoming a key battleground. To stay up to date with all the latest breaking news, sport, politics, and weather, be sure to download the 9NEWS app. With notifications sent straight to your smartphone, you won't miss a thing. Available on the Apple App Store and Google Play.

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