The economy is a dominant issue in the Election. From now until polling day, Independent Australia will outline some key facts on the economy that put the kybosh on many of the myths, lies and distortions being peddled in this Election campaign.
This is the 15th in a series of short articles by leading economist Stephen Koukoulas, which will be published daily up until the Federal Election on Saturday 3 May 2025.
FACT 15: KEY GOODS AND SERVICES WHERE PRICES HAVE FALLEN UNDER LABOR
While the cost of living has been a dominant issue in the Federal Election campaign, the inflation data for the 2025 March quarter confirmed a range of key areas of consumer spending where prices have fallen or increased by a small amount since Labor won the Election in May 2022.
Given that in “normal” economic times, annual inflation averaged 2.5%, the softness in prices in some items is often overlooked.
Here is a sample of goods and services showing the price change from the 2022 June quarter to the 2025 March quarter.
An assessment of price changes would not be complete without looking at some of the items that have risen strongly.
These include:
The 2025 March quarter inflation data confirmed annual inflation at 2.4%, down from the peak of 7.8% in the 2022 December quarter.
Learning the facts won't cost you a thing.
Other facts in this series:
- In fact, Labor has inflation back under control
- Energy prices are plummeting
- Wage growth on the rise under Labor
- Labor brought down government debt by billions
- Labor building on a better future
- Coalition taxing at a record high, not Labor
- Under Labor, Australia is more productive
- Australia among best in the world at beating inflation
- Australia keeping tax down
- Employment rising under Labor
- Interest rates expected to drop under Labor
- Housing affordability on the mend
- Superannuation hits high under Labor
- Labor victory a good investment
Stephen Koukoulas is one of Australia’s most respected economists, a past chief economist of Citibank and senior economic advisor to an Australian Prime Minister. You can follow Stephen on Twitter/X @TheKouk.
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Australia License
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