Australians Feeling Miserable as Misery Index Hits Highest Level Since 2022

The Australian misery index has climbed sharply this year, according to economist Arthur Okun's formula, which combines unemployment and inflation rates.

The Reserve Bank's rate rises have contributed to the increase in the index, making many Australians feel miserable about their economic situation.

Treasurer Jim Chalmers and Reserve Bank governor Michele Bullock are trying to address the issue by adjusting property taxation policies, which has had an impact on the housing market.