Shocking stats reveal toll of country’s cost of living crisis

For the first time, Australia’s cost of living crisis can be quantified. And it makes for terrifying reading.

Australia, for the first time in recorded history, has broken a record no country would be proud of.

New statistics, released on Thursday, show that more than half of Australia’s population is experiencing mental distress directly linked to the cost-of-living crisis that is gripping the nation.

The numbers from the September quarter of this year reveal elevated cost-of-living distress — beyond normal levels — within 56 per cent of Australian families.

The latest data is available thanks to Suicide Prevention Australia’s Community Tracker which looks at the social and economic issues driving distress and subsequent suicide risk in Australia.

Perhaps most alarmingly, the new figures show that suicide deaths have risen an average of 7 per cent in 2022 across NSW and Victoria, representing more than half the national suicide toll between them.

Households with children under 18 were also twice as likely to call a frontline suicide prevention service for help.

Over the past 12 months, those same households reported increased suicidal behaviours and mental illness diagnosis.

Cost-of-living and personal debt was the highest cause of distress for the fifth quarter in a row in the September2023 quarter. Nationally, 46 per cent of those surveyed blamed those two causes for their decline in mental health.

The figure was a significant increase on both the previous quarter (40 per cent) and the same time last year (40 per cent).

Cost of living distress has been reported by 56 per cent of Australian families.

It was also almost double each of the top four issues, even with a continued climb in housing access and affordability concerns.

Suicide Prevention Australia CEO Nieves Murray said the findings served as a “warning sign” for household distress converting into suicide rates.

“We know that suicide is complex and often linked to many risk factors like personal debt, unemployment, family breakdown, social isolation, and mental health,” Ms Murray said.

“Suicide doesn’t discriminate and has an overwhelming ripple effect across families, friends, workplaces and communities.

“Feeding the family and keeping a roof over our heads are two of the most basic human needs. While interest rates are a matter for the RBA Board, we must be prepared and proactive to prevent distress and suicide rates from continuing to rise.”

She implored Australians having difficulty with their mental health to seek help.

“If you are doing it tough, please reach out and get support. Help is available and it can make a difference if you are struggling.

“Together, let’s embrace our collective responsibility, champion hope and take meaningful action to save lives.”