Economist provides insight on the current state of the Australian economy

Independent economist Chris Richardson has lifted the lid on the dire state of the Australian economy.

Richardson provided insight on the negative impact that rising inflation and higher interest rates are having on Australian consumer spending.

Click PLAY to listen to economist Chris Richardson on 3AW

“This has been the sharpest and fastest fall in living standards in Australia in more then half a century,” he told 3AW Mornings with Tom Elliott.

“It all comes down to inflation, prices have jumped far more then our wages have.”