S1 - Introduction

This storyboard looks at how the cost of living crisis is affecting Australians by using the CPI and other economic indicators. This piece of information is sourced from the Australian Bureau of Statistics (ABS).

S2 - CPI Trends Over Time

S3 - Food Prices Over Time

This chart shows how the prices of food and drinks without alcohol have changed in Australia. It shows how the prices of food have gone up significantly, especially since 2020.

S4 - Housing Costs Over Time

This chart shows changes in housing-related costs in Australia, including rent, rates, and utilities. It shows that housing prices have gone up over time, especially in recent years.

S5 - Electricity Prices Over Time

This chart shows how the price for electricity has changed for people in Australia. In recent years, prices have gone up a lot, which has affected the finances of families.

S6 - Summary and Key Points

This storyboard uses Consumer Price Index (CPI) data to show how the cost of living in Australia has gone up over time, especially in the last few years. The charts show the basic essential costs that people have every day, like food, shelter, and electricity.

We examined patterns in the overall CPI of:

-Prices of food

-Costs of housing

-Cost of electricity

The Consumer Price Index (CPI) is a value used to keep track of how the prices of products and services that people usually buy, like groceries, rent, utilities, and etc. An increase in the CPI suggests that these common things are getting more expensive, which is a sign of inflation.

The data shows that the cost of living has gone up a lot since 2020. This is mostly because of inflation, which has made it tougher for Australians to buy basic things. Costs for housing and electricity have gone up a lot, which makes it harder for families to stay within their budgets.

Food prices have also gone up regularly, which makes it harder for families to keep track of their weekly costs. These price rises in important areas indicate that inflation isn’t just a number, it really changes how people live and what they can afford.

We can observe exactly where prices are going up the most and how that affects various aspects of daily living in Australia by keeping an eye on the CPI and how it changes over time.

References

Australian Bureau of Statistics. (2024). Consumer Price Index, Australia. https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/consumer-price-index-australia/latest-release

R Core Team. (2024). R: A language and environment for statistical computing https://www.r-project.org/

Wickham, H., & Grolemund, G. (2017). R for Data Science. O’Reilly Media.

Learning Resources

RStudio (2024). RStudio Cloud - Getting Started. https://posit.cloud/learn/guide