The annual Matching Prices survey compares the cost of various goods and services such as iPhones, movie tickets and public transport across different countries.
Deutsche Bank says that this is the fourth consecutive year that Australia has been ranked the most expensive country on their survey.
“In previous years, Australia had consistently been the world’s most expensive country while the United States had been the cheapest developed country,” the Deutsche Bank report states.
“However, the gap between Australia and the United States has narrowed over the past year due to the strength of the US dollar.”
A separate study conducted by the Domain Group’s rental report has found that rent in Melbourne has reached an all-time high.
This issue was raised in Andrew Leigh’s book Battlers & Billionaires: The story of inequality in Australia, which provides an overview of inequality in Australia. Leigh suggests that the so-called ‘lucky country’ moniker may indeed become a thing of the past – particularly for our most disadvantaged communities.
Inequality remains a significant issue in Australia. Last year’s federal budget was criticised by many in the welfare sector as ‘unfair’ and disproportionally affecting Australia’s disadvantaged communities.
Despite Tasmania’s economy still barely moving and once big employing industries – such as forestry, mining and manufacturing – shedding jobs at an alarming rate, the federal government has slashed emergency relief funding to welfare agencies by 30 per cent.
UnitingCare Tasmania and the Bendigo Bank are launching a partnership to assist struggling Tasmanians this winter. The appeal will collect unused blankets, coats and scarves donated at Bendigo Bank branches in southern Tasmania, which UnitingCare Tasmania will distribute to those in need.