Report finds Aussies' transport spending has rocketed

A new report by the Australian Automobile Association (AAA) has found Aussie households have spent more money on transportation in the first three months of 2021 than any other time in the past five years.

Data from the AAA's latest Transport Affordability Index shows no less than 14.6 per cent ($354 per week) of an average household’s income is going towards its automobiles.

This represents a 14.3 per cent ($44 per week) increase compared to the last three months of 2020. It’s also the biggest quarterly jump since the index was first established in 2016.

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Michael Bradley, managing director of the AAA, said: “This sharp rise in transport costs needs to be monitored by governments, which need to avoid policies and decisions that impact cost of living.

“Transport affordability needs to remain a priority for government, as Australia has not only just recorded the largest jump in transport costs since the affordability index commenced, but households are now paying the highest proportion of their income toward those costs.”

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The news is hardly surprising, considering the overly inflated prices of used vehicles at the moment, and multiple manufacturers hiking up prices of their products several times over the past 12 months.

What do you think? Have you been spending more on transportation lately? Let us know in the comments below.