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Cost of living weighs heavily on consumer confidence

by Staff Reporter7 minute read
The Adviser

Staff Reporter

The rising cost of living is the single biggest cause of anxiety for Australians, new research has revealed.

According to the NAB Quarterly Australian Wellbeing and Consumer Anxiety Index, more than 40 per cent of Australians said their number one reason for anxiety was the ‘cost of living’.

Just over 36 per cent said government policy made them anxious, while 31 per cent said the ability to fund retirement was their biggest cause of anxiety.

Tasmania was the least anxious state for overall wellbeing, but it rated highest for consumer anxiety, marginally ahead of Victoria and Queensland.

By location, consumer anxiety was much higher in the bush, with very high levels of anxiety over cost of living and government policy.

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