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Australia: Floods in Victoria will affect the cost of living

Industry experts fear that Victoria's flood crisis will worsen the already rising cost-of-living in Australia. Floodwaters in the state have hit farms and businesses, leading analysts to predict price increases for dairy products, grain and fruit and vegetables.

Crops and livestock have been affected in key farming areas, from Shepparton to the Victoria/NSW border and right across the Goulburn Valley, where a significant amount of peaches, tomatoes, pears and apples are grown.

Australian Treasurer Jim Chalmers has warned that people can expect even more pressure on the household budget: "I think Australians do need to brace for a cost of living impact from these floods," he said, adding that the government would be there to support people 'in the usual way.'

The flood crisis continued on Monday, the 17th of October, with rising rivers threatening thousands of homes, forcing more evacuations, and leaving communities without power.


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