THE SQUIZ
It might not come as a surprise, but cost of living concerns are at the front of Aussies’ minds… That’s according to communications/advocacy firm SEC Newgate and its latest Mood of the ­Nation report, showing 61% of the 2,207 people surveyed think things are “heading in the wrong direction”… That’s up from 51% in April. Researcher David Stolper says the cost of living “is really starting to bite hard,” and we’re “deeply pessimistic about the economic outlook for the next 12 months.” And it’s an issue that’s also biting the Albanese Government…

WELL, ALL WE HEAR IS HOW TROUBLED THE ECONOMY IS…
And the report says that’s turned into a feeling of despondency, with 61% of respondents believing the country is heading in the wrong direction. Stolper says the survey also shows “nearly half (46%) of Australians are now experiencing financial difficulties”, up 7% over the past couple of months. That’s backed up by data from research firm Digital Finance Analytics that the financial stress felt by Aussies is at its highest since records started in 2001. And despite hearing a lot about housing prices lately, Stolper says the cost of everyday essentials is a problem. “Australians are particularly worried about the rise in grocery and electricity prices,” he said, with 90% of the survey’s respondents flagging those as their main concerns.

UGH POWER PRICES…
Indeed – and nod furiously (but protect your neck…) if you remember that a big part of Team Albanese’s pitch to voters last year was a promise to bring energy prices down… Yesterday, Energy Minister Chris Bowen confirmed that the mandatory gas code of conduct has been finalised, and from today, there will be “more gas at more reasonable prices for Australian gas users.” Bowen has been talking to producers for months about a wholesale gas price cap – $12 per gigajoule, to be exact – along with getting domestic supply commitments. That process has wrapped up, and along with introducing caps on coal costs for electricity generators, Bowen says the government’s actions have “nearly halved wholesale energy prices.” APPEA – the industry body representing the gas producers – says their members will get on with it, but what’s needed from the government is a plan “to bring on new gas supply”. If it’s not one thing, it’s another…