Some economists propose that the cost of living crisis is over and was not as dire as initially believed.

Click PLAY to hear from the expert.

Professor Jakob Madsen of the UWA Business School informed Perth Today host Simon Beaumont that what occurred was merely a setback, not a massive crisis.

“If you look into previous crises like the Great Depression, World War 1, the 1890s crisis, it’s nothing compared to what we saw back then,” he said.

Hear more highlights from Perth Today below and download the 6PR app on i0S or Android to ensure you don’t miss a thing!

Image: iStock