Poorer Australians end up paying ‘poverty premium’ amid cost-of-living crisis

Australians on the lowest incomes are paying a “poverty premium” through higher costs for everyday essentials over the long term, a report released today found.

Compared with wealthier people, poorer residents lack significant savings, time to spend and don’t have the resources to shop around or buy items in bulk such as groceries, according to the Anglicare Australia study.

It means over the long term, lower-income people pay up to one-and-a-half times more for the same services than others.

Researchers examined the costs they are paying compared with higher income groups for everyday essential goods and services

They found they fork out 93 per cent more on groceries and 61 per cent more on insurance, while the cost of phone data was a staggering 142 per cent higher.

Anglicare Australia executive director Kasy Chambers said the extra costs were a “poverty premium” that punished poorer people.

(9 NEWS)

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