Australian consumers will be slugged with a series of price rises in the new year despite the rising cost of living.
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From passports to airline flights, customers could expect to pay more as businesses and governments grapple with rising inflation and the uncertain economic conditions.
According to the Australian Bureau of Statistics, the nation's consider price indicator rose almost five per cent in the 12 months to October 2023.
The biggest price hikes were felt around housing, food and non-alcoholic drinks and transport.
Public transport
Victorian commuters will be hit with their second myki fare hike in six months from January.
Under the state plan, the maximum full weekday fair will rise by 60 cents for adults, meaning someone commuting five days per week will spend an extra $156 per year.
The full fare for concession card holders will rise from $5 to $5.30, and regional fares below the daily cap will rise by 20 cents.
Council rates caps
Ratepayers across NSW will be slugged with higher council rates in the new financial year, with the state's regulator allowing rises of up to 5.5 per cent in 2024/25.
The Victorian are also expected to rise within the 3.5 per cent hike introduced by the state government last financial year.
Other Australian states, and the Northern Territory, allow each council to set their own rates with varying restrictions.
Australia Post
It could soon cost $1.50 to send a small letter, under a proposal from Australia Post.
The Australian Competition and Consumer Commission (ACCC) is considering a proposal increasing the basic postage rate from $1.20 to $1.50 in 2024.
It's also expected the price of ordinary letters of up to 250g will increase by 25 per cent.
The consumer watchdog announced in November it would continue considering the proposal into the new year.
Australian passports
Australians will have to pay more for their passports this year under a new federal decision to mark up fees from July.
Passport fees will rise from July 1, with adult 10-year passports climbing from $325 in 2023 to $373.75 in July.
Australia's passport remains one of the world's most expensive, ranking about the United States, the United Kingdom and New Zealand.
Airfares
Airservices Australia proposed four price increases between April 2024 and January 2026, which could see a rise in already bloated airfare costs.
Service fees could be increased by 19 per cent over two years, which could result in airlines paying thousands more to operate a flight depending on the size and the route.
Changes will be considered until late January.
NBN price rises
Many Aussies will be facing down a bigger internet bill after the National Broadband Network's new wholesale pricing agreement took place on December 1.
Telstra, Optus, Foxtel and Aussie Broadband all announced price adjustments in the wake of the changes.
Under the changes, the NBN company could increase prices for lower-tiered products and decrease prices at the top end.
Telstra and Optus announced plans to increase basic plans to $5 per month
Streaming
In October, streaming giant Netflix scrapped its cheapest ad-free option, stinging customers with a $16.99 monthly free to access content without commercials.
Standard monthly plans for Disney+ rose from $11.99 to $13.99 last year, while Aussie-owned Stan rose from $14 to $16. Amazon Prime, Kayo Sport and Binge also increased prices by $3 each month.
