In recent years, Australians have been increasingly concerned about the relentless rise in the cost of living, with essential goods and services becoming more expensive. This economic trend has stirred debates and prompted significant questions regarding its impact on households across the nation. As wages and salaries struggle to match these escalating costs, many individuals are turning to retail theft as a means of sustaining their living standards. This issue becomes particularly apparent when we consider the relationship between the Consumer Price Index (CPI) and weekly income, where income growth frequently falls short of keeping pace with inflation. The primary aim of this dashboard is to delve into the multifaceted nature of cost of living inflation in Australia, examining its root causes, consequences, and its potential correlation with the uptick in theft occurrences.
Data Reference:
NSW Bureau of Crime Statistics and Research. (2023, December).
BOCSAR. https://www.bocsar.nsw.gov.au/Pages/bocsar_datasets/Offence.aspx
Australian Bureau of Statistics. (2023, December). Selected Living Cost
Indexes, Australia methodology. ABS. https://www.abs.gov.au/methodologies/selected-living-cost-indexes-australia-methodology/dec-2023.
Australian Bureau of Statistics. (2023, November 1). Living costs rising
fastest for employee households. ABS. https://www.abs.gov.au/media-centre/media-releases/living-costs-rising-fastest-employee-households.