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Australian food bills rising

Australian food bills rising

Australian food bills are rising, according to a new study.

The cost of the average Australian food shop is rising, with kids staying at home longer and tastes diversifying.

According to the Woolworths Trolley Trends report, housing costs account for the largest share of wallets at 18 per cent, with food and non-alcoholic drinks accounting for 17 per cent of Australian wallets.

This is made worse by more than half of all households headed by someone from Generation X reportedly having a home loan, while a third have credit card debt.

It was found that on average people spend 34 per cent of their weekly food budget on their primary shopping day, and are increasingly using the supermarket like a pantry, with the emergence of more easily accessible smaller stores.

A spokesperson for Woolworths said: “Over the 25 years reviewed, Australia has become a cosmopolitan community… The way we eat and how we spend our money on food and other costs of living tell a unique story about how our country has changed.”

Posted by Steve Douglas

All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

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