Drivers warned to prepare for end to cut of fuel excise as living costs rise | 7NEWS

7NEWS Australia published this video item, entitled “Drivers warned to prepare for end to cut of fuel excise as living costs rise | 7NEWS” – below is their description.

Drivers are being warned to prepare for a big rise in the cost of petrol in September, when the federal government’s cut to the fuel excise ends. Combined with rising inflation, it will add significantly to the cost of living, increasing the pressure on many household budgets.

7NEWS Australia YouTube Channel

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About This Source - 7NEWS Australia

Seven News is the television news service of the Seven Network and, as of 2016, the highest-rating in Australia. The news service draws upon overseas channels for select international coverage. The network’s Director of News and Current Affairs is Craig McPherson.

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In This Story: Inflation

In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

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