Experts Split on End of Cost-of-Living Crisis in Australia

A recent survey of 38 finance experts and economists conducted by Finder has revealed that one-third of respondents believe Australia's cost-of-living crisis is over.

Saul Eslake from Corinna Economic Advisory was among those who expressed this view, stating that the term 'crisis' may be an exaggeration for many Australian households. He drew a comparison to his own experience with double-digit inflation and unemployment in the late 1970s and 1980s.

Finder's survey found that 92% of experts expect the Reserve Bank of Australia (RBA) to leave the cash rate unchanged at 4.35% when they meet on August 11.

However, many experts disagreed with Eslake's assessment, citing high housing costs and expensive everyday bills as ongoing concerns for millions of Australians. Finder's Richard Whitten noted that while house prices are finally falling, other expenses continue to rise.