High cost of living continues to bite in Queensland

People living in Queensland continue to take drastic measures to protect their bank accounts, as new figures showed that many residents are unable to cover the costs for necessary medication.

The Australian Bureau of Statistics has discovered that 11.4 per cent of Queenslanders either did not buy, or delayed purchasing medication, due to the additional expense. This was higher than the national average of 9.8 per cent, the Courier-Mail reports.

It was also found that ten per cent of Aussies in 2010-11 delayed seeing their GP because they could not afford to pay for treatment.

The cost of living throughout Australia has grown sharply, with petrol prices and household energy rates rising in the past 12 months. Clearly, many people in Queensland would have been well served opening savings accounts when the economy was at its strongest.

Despite this, a recent study by ING Direct showed that nearly three-quarters of Queenslanders believe their financial situation would either stabilise or improve in 2012.

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