A new study has found price isn’t a deterrent when it comes to illicit drugs.

New research out of England found more than 70 per cent of those surveyed had admitted to using illegal substances.

John Ryan, CEO of the Pennington Institute, said people were still consuming high quantities of cocaine in Australia, despite the hefty price tag.

‘The cost of cocaine that’s reported through this research is about $300 a gram, or $400 for premium cocaine,’ he explained on 3AW Breakfast.

‘That’s really world’s most expensive.

‘If you go to Colombia it’s $5 for what we pay $400 in Australia.’

Click PLAY below to hear more about the research