20th Apr 2018

Transport and food drive household cost increases

FONT SIZE: A+ A-
Transport and food drive household cost increases

Household costs for retirees on either a full or partial Age Pension (Constrained Couples and Singles and Cash-Strapped Couples and Singles) and self-funded retirees (Affluent Couples and Singles) rose 0.6 per cent in the December quarter of 2017.

The Australian Bureau of Statistics (ABS) reported that the main contributors to the rises were transport (+3.3 per cent for pensioners and +2.3 per cent for self-funded retirees) and food and non-alcoholic beverages (+1.4 per cent and +1.2 per cent).

The rise in transport costs was driven by automotive fuel with all fuel types posting cost increases during the quarter. The rise in food and non-alcoholic beverages was driven by higher fruit costs, particularly strawberries and grapes.

A drop in the overall cost of health (-1.7 per cent) offset the rises for Constrained and Cash-Strapped Singles and Couples. This was driven by pharmaceutical products as a result of the cyclical increase in the proportion of consumers exceeding the Pharmaceutical Benefits Scheme (PBS) safety net.



The most significant partial offset for the quarter for Affluent Singles and Couples was furnishings and household equipment (-1.2 per cent) driven by strong discounting activity in the retail sector.

Why not use this table to compare and keep track of your own household expenditure?

 


Related articles:

All content on YourLifeChoices website is of a general nature and has been prepared without taking into account your objectives, financial situation or needs. It has been prepared with due care but no guarantees are provided for the ongoing accuracy or relevance. Before making a decision based on this information, you should consider its appropriateness in regard to your own circumstances. You should seek professional advice from a financial planner, lawyer or tax agent in relation to any aspects that affect your financial and legal circumstances.





COMMENTS

To make a comment, please register or login
Charlie
22nd Apr 2018
10:53am
I have noo wish to check ya calculations.
neil
22nd Apr 2018
12:58pm
Nice to know fuel costs have gone up again; fuel cost rises are discounted from o.a.p. increases. no public transport out here on the east coast of Tasmania.
Neil.
MICK
22nd Apr 2018
4:23pm
Food, insurance and government charges at the culprits. Fuel has been steady since the GFC.
Arisaid
22nd Apr 2018
5:05pm
I have found that my weekly expenditure at the supermarket (Coles or Woolworths) has gone from being around $140-150 per week up to $170-200 per week. All this in the last 2 months. That's a lot extra to find each week. I'm a pretty savvy shopper and keep an eye out for all the specials.
George
22nd Apr 2018
10:36pm
Completely unbelievable to suggest health care costs have gone down, with the explanation given both not plausible at this early part of the year (about people exceeding PBS safety net) and the comment not making any sense.
KB
28th May 2018
4:46pm
Every thing goes up. Electricity will go up in July or Food prices are dependent on the seasons of the year whether we have floods or fires or droughts.


Join YOURLifeChoices, it’s free

  • Receive our daily enewsletter
  • Enter competitions
  • Comment on articles