Furious Aussie woman says what many are thinking about the cost of living crisis – and shares alarming inflation theory

An Australian woman has criticised businesses for raising prices during a cost of living crisis.

Bec expressed her frustration with her energy supplier after receiving a bill that had ‘doubled’ in just six months.

“Can someone tell me why the hell my Origin Energy bill has doubled in the last six months?” she asked in a video posted on social media.

She explained that her local cafe was “too scared” to increase the price of their coffee by fifty cents because they were afraid of losing customers.

‘[The coffee shop] “They have suppliers for milk, sugar and wages, and they’re too afraid to raise prices because they don’t want to lose customers,” Craig said.

“Yet there are greedy, big companies like Origin and AGL who charge us double the price for basic necessities like energy for our homes,” she added.

‘Can someone please tell me if they are paying their staff double what they were six months ago? Can someone help me with this?’

Bec called the cost of living crisis a “joke” and claimed “inflation is just an excuse” for big business to raise prices.

Many Australians agreed with Bec and shared their experiences of the rising costs of essential bills.

“Why did my car insurance increase by $800 in one year when I never filed a claim,” one person wrote.

“My cell phone bill just went up $20 a month because they said maintenance fees were going up. I think that’s bullshit! Plus the service is worse than ever,” wrote another.

“My home insurance has gone up $720 a year and my electric bill has doubled. It all sucks,” a third commented.

Others argued that large companies could increase their customers’ bills because they were providing an essential service, while buying a cup of coffee was a ‘wish’.

“The difference is ‘needs and wants’. You need electricity, but coffee and cafes are a want. They know you need electricity. Simple. Greed,” one person wrote.

Another added: ‘Nobody needs overpriced coffee, that’s why they don’t put it on. Of course you can live without electricity, but I don’t think many people would want to.’

A sixth said: ‘There is no reason for energy companies to keep raising prices. But they do it because they can get away with it and there is no government action.’

Energy bills rose 6.5 percent in the year to May, according to data from the Australian Bureau of Statistics.

The increase prompted the Albanian government to introduce a $300 energy bill rebate for all Australian households to combat rising living costs.

Starting July 1, households will automatically receive a $300 discount on their electricity bill, while one million small businesses will receive a $325 discount on their bill.

Meanwhile, inflation rose to four percent in the year to May, from 3.6 percent the previous month, prompting NAB analysts to warn that any rate cut could be delayed until after May next year.

The combination of rising energy bills, higher petrol prices and sky-high rents has pushed consumer price growth to its highest level in six months, well above the Reserve Bank’s target of two to three per cent.

Analysts from UBS and Deutsche Bank have joined Warren Hogan, chief economist at Judo Bank, in predicting a 14th rate hike in August.

The prediction could come as a huge blow to struggling mortgage holders who have already endured 13 rate hikes between May 2022 and November 2023.

The Prime Minister is expected to discuss his government’s cost of living and economic management measures in Parliament this morning.

However, some economists warn that Albanese’s cost-of-living measures, such as the $300 energy rebate, risk keeping inflation high and hurting Australians’ wallets.

“Governments are throwing a lot of money at the symptoms of the cost-of-living crisis, but that’s exacerbating the cause of it. And the cause is too many dollars being spent on too few things,” independent economist Chris Richardson told The Australian.

‘Governments have left the field in the inflation battle. We are fighting the inflation battle with one hand.’

In news likely to anger struggling households, Mr Richardson warned that “mortgage relief is still a long, long way off”.

Cherelle Murphy, chief economist at EY, also said another rate hike is now a real possibility when the RBA meets again in August.

“The monthly consumer price index has shocked financial markets, who are now seriously considering the possibility of another rate hike by the Reserve Bank at its next meeting,” she said.

The bad news came just a week after RBA Governor Michele Bullock confirmed a rate hike was more likely than a rate cut. The cash rate remained unchanged this month at a 12-year high of 4.35 percent.

“Yes, the board discussed raising interest rates at this meeting,” she told reporters.

‘No, no austerity proposal has been taken into account.’