A warning from the Reserve Bank of Australia on the rising cost of living reinforces the need for State Government action to mitigate the effects on already-struggling Tasmanians.
The RBA has forecast that the cost of living will rise more and for longer than previously thought - with inflation now forecast to peak nationally at around eight per cent later this year.
The year to September had already produced the highest CPI inflation rate in more than three decades and now it is forecast to rise even higher, putting more pressure on Tasmanians as they deal with the soaring cost of goods and services.
New ABS data shows all household types are now feeling the pinch from the rising cost of living, with basics like food and housing again the main drivers.
With Tasmanian wages continuing to lag behind the rest of the country, families are going backwards at an ever-increasing rate, and businesses are facing further operational costs which put at risk livelihoods and services.
The Premier Jeremy Rockliff could provide some relief by adopting Labor's plan to cap power prices at 2.5 per cent.
But, rather than acting on the cost of living, the Premier remains focussed on building a $750 million stadium in Hobart.
Mr Rockliff needs to get his priorities right and start providing the help and support Tasmanians so desperately need.
Shane Broad MP
Shadow Treasurer
