The cost of living and financial hardship pose the greatest threat to Australian suicide rates.

According to recent data, more than one-third of Australians know someone who has committed suicide or attempted suicide in the last 12 months.

According to a troubling study conducted by Suicide Prevention Australia, 38% of the 1022 persons polled were either indirectly or directly influenced by suicide throughout the study period.

One in every five adults reported suicidal ideation in the previous year, and 70% experienced severe distress.

According to additional study conducted by the national apex authority for suicide prevention, the most prevalent pressures Australians reported facing were the cost of living and personal debt, with housing-related anxiety being the fastest-growing issue.

According to Nieves Murray, chief executive of Suicide Prevention Australia, new data suggest that housing stress has grown particularly quickly among "middle age and medium salary" Australians, and that financial concerns pose the greatest threat to the nation's mental health and suicide rates.

"Our findings once again demonstrate the clear correlation between the impact of rising economic and social stresses and community distress levels," Mr Murray said.

"Suicide rates can peak two to three years after a catastrophe, according to research." We must act now to address rising rates of misery and the risk of rising suicide rates in our community."

According to Mr Murray, 88% of the nation's frontline suicide prevention agencies have seen increased demand in the last year.

Several prominent mental health support organizations have expressed similar concerns.

According to Dr Grant Blahki, Beyond Blue's chief clinical consultant, a recent survey of 15,000 Australians undertaken by the mental health support organization discovered a similar correlation between deteriorating mental health and financial difficulty.

"What we discovered was that rising living costs and high interest rates were disconnecting individuals from goods and contributing to stress," Dr Blahki explained.

"Even though people aren't as concerned about Covid as they once were, there is a sense of fatigue." There has been a cascade of crises; the pandemic, disaster events, and financial concerns."

People with financial stress were twice as likely to have mental health concerns, according to Dr. Blahki, while people with mental health issues were also twice as likely to have financial stress.

"As a GP, I notice that if you have a lot of money problems and money stress, it's not good for your mental health, you know, people can't sleep, they feel horrible about things," he explained.

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