Living costs jump 24% as lower income families left behind, SVP report warns

The income needed for a basic standard of living has risen sharply in recent years, with lower-income households struggling to keep pace with surging costs, a new report has found.

The income needed for a basic standard of living has risen sharply in recent years, with lower-income households struggling to keep pace with surging costs, a new report has found.

The annual publication from St Vincent de Paul suggested that essential living costs have risen almost 24% since 2024 but social welfare rates have not caught up, leaving families reliant on such payments in an even more precarious position than before.