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AAP
AAP
Business
Poppy Johnston and Andrew Brown

Rising cost of living hammers renters and mortgage belt

Mortgage-holders and renters are feeling the pinch as inflation and rates erode purchasing power. (Dan Peled/AAP PHOTOS)

All households are feeling the pinch from rising living costs yet those renting or paying off a mortgage are experiencing the biggest hits to their purchasing power.

Following the Reserve Bank's decision to keep interest rates on hold and stamp out hopes of a near-term cut, the national statistics bureau has released indexes detailing the impact of rising living costs on different groups.

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