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Families are $25,000 a year worse off since the election of the Albanese government, the coalition says.
Shadow treasurer Angus Taylor said Labor's second budget, which the government argued delivered on responsible cost of living release, was a "con job".
"After less than a year in government, there is $185 billion of extra spending, which makes inflation worse and does nothing to help you or your family get ahead," Mr Taylor said.
"Instead, this budget makes the situation worse.
"In fact, with the combined impact of interest rates and inflation, a typical Australian family is $25,000 a year worse off since the Albanese government was elected."
Mr Taylor said the budget confirmed no growth in real wages this year and a rising cost of living.
The budget papers showed the consumer price index averaging six per cent in 2022/23 and 3.25 per cent in 2023/24.
At the same time, the wage price index will hit 3.75 per cent in 2022/23 and four per cent in 2023/24.
Mr Taylor said gas and electricity bills were still forecast to rise, despite Labor promising at the election to lower them.
He said Treasurer Jim Chalmers made the jobless rate a test for the government, but unemployment was forecast to climb from 3.5 per cent this financial year to 4.25 per cent the following year.
Nationals leader David Littleproud said the budget confirmed a new "food tax" - a levy on farmers, importers and travellers to cover a boost in biosecurity spending.
Mr Littleproud said the levy, coupled with higher road user charges for truckies, would lead to higher grocery prices.
He also took aim at changes to regional grant programs and the abandoning of dam projects.
Opposition Leader Peter Dutton will deliver his budget reply speech on Thursday.
