How Australia became the world’s biggest cost-of-living loser
Australians have experienced the sharpest decline in living standards across the OECD since 2019. Voters overseas have turfed out governments for much less.
When inflation rises, governments fall – and Australia’s looks increasingly wobbly.
Each of the 10 governing parties in rich countries that went to the polls this year experienced a decline in their vote share – the first time this has happened in almost 120 years of records, according to analysis by John Burn-Murdoch at the Financial Times.
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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
