An ‘onslaught of punches’: is this week the cost-of-living tipping point for many Australian households?

As more families report housing stress, declines in financial wellbeing and food insecurity, experts warn that the situation is not just an economic problem but a matter of public health

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When Justin Everitt heard that the Reserve Bank had increased the cash rate to 4.6% this week – the highest it’s been since 2011 – his first thought was: “Oh shit, another kick in the guts.”

The third-generation southern New South Wales grains farmer and vice-president of NSW Farmers was already feeling the pressure of the cost-of-living crisis, compounded by soaring fuel costs that make it harder for him to do his job. For Everitt, who produces wheat, canola, barley, beef and lamb on his farm in Brocklesby, the rate rise couldn’t have come at a worse time.