The latest AAA Transport Affordability Index shows that Australia’s transport cost inflation eased in the June quarter, falling below the consumer price index rate.
The latest AAA Transport Affordability Index shows that Australia’s transport cost inflation eased in the June quarter, falling below the consumer price index rate.
But over the 2022-23 financial year, transport cost rises were about 50 per cent higher than CPI, and they remain at levels causing considerable discomfort for many Australians.
The report, released by Australia’s peak motoring body, shows typical capital city household transport costs rose by an average 0.5 per cent across Australia in the June quarter, and typical benchmark regional household transport costs rose by an average of 0.6 per cent.
But price surges in the previous quarters of the 2022-23 financial year leave transport costs at a much higher level than they were in 2021-22.
At the end of the June 2023 quarter, typical capital city household transport costs were 8.8 per cent higher than they had been at the end of June 2022, and typical benchmark regional costs were 10.1 per cent higher than they had been 12 months previously.
These increases are significantly higher than the consumer price index rate of 6.0 per cent for the same period.
AAA Managing Director Michael Bradley said: “The cumulative effect of continually rising transport costs is a heavy burden at a time when Australians are feeling cost of living pressures across the board.
“Transport is a significant and unavoidable expense for households and is one of the key drivers of inflation. Governments at all levels must consider these cost pressures when formulating policy.”
The Index’s economic modelling is based on a “hypothetical household” that:
AAA MEDIA CONTACT
Matthew Franklin, Director – External Affairs: 0411 659 868, [email protected]
The AAA is the nation’s peak motoring body, representing Australia’s state-based motoring clubs and their 8.9 million members. It is an apolitical and technology-neutral advocate for federal transport policy that improves safety, affordability, and mobility.
Australia’s peak motoring body says a lack of publicly available information about Australian roads and the crashes occurring on them makes it impossible to accurately explain such dramatic increases, or the effectiveness of the measures being funded to prevent them.
read more
Australia’s peak motoring body is greatly concerned by these numbers and the fact that national injuries remain unable to be counted or reported, despite years of promises from governments that such progress on data collection is imminent.
read more
The Australian new vehicle market is continuing to change as battery electric vehicles (BEVs) and hybrids take market share from internal combustion engine cars. But there are big regional differences across the country.
read more