Australians’ Personal Debts Reach $70 Billion Amid Rising Cost Pressure: Research

Australians’ Personal Debts Reach $70 Billion Amid Rising Cost Pressure: Research
An Australian one dollar coin is displayed on May 16, 2012 in Melbourne, Australia. Scott Barbour/Getty Images
|Updated:

A new study has found that Australians are significantly racking up more debts to cope with high inflation compared to last year.

According to research by the financial comparison website Finder, an average Australian consumer currently accumulates a debt of $20,238 (US$13,500), up from $18,301 a year ago.

Alfred Bui
Alfred Bui
Author
Alfred Bui is an Australian reporter based in Melbourne and focuses on local and business news. He is a former small business owner and has two master’s degrees in business and business law. Contact him at [email protected].
Related Topics