August 2022 Beforepay Cost of Living Index

Below is a full month-by-month breakdown over the last 12 months. See sub-category descriptions here.

Key Spending Insights for August 2022

The biggest increases were in utilities, durables, fitness and health, and entertainment, each of which contributed an increase of more than 30% compared to July 2022.

Every category was up over the month, led by fitness and health at a 51.57% increase.

Shopping had the smallest percentage increase over the month, at 12.4%.

Over the last year, daily spending for the average Australian has increased 42.3%, from $58.50 in August 2021.

Additional insights:

• Spending on groceries has increased 18% from $15.96 in July 2022 to $18.89 in August, in part due to continuing supply chain issues.
  
  
• Spending on petrol has increased by 22% from July 2022 as supply issues continue to push up oil prices.
  
  
• Durable shopping has increased by 51% from $8.28 in July to $12.53 in August.
  
  
• Utilities are up 37.56% from July 2022 and have increased 57.87% compared to last August, a period when we were all spending more time at home due to COVID lockdowns.
  
  
• Other categories that saw significant increases on last August were food and drink (50.78%) and entertainment and leisure (28.79%). The changes come as a result of a mixture of price increases and a return to normal living activities, compared to lockdowns in several states that impacted spending in August 2021. 

Cost Of Living Sub-Category Descriptions

Below are brief descriptions that outline the type of expenses applicable to each spending category.  

Groceries

Grocery stores where raw vegetables and meat are sold. 

Food & Drink

Any restaurant, pub or vendor that sells food that is not prepared or processed, i.e. not groceries.

Petrol & Auto

Any spending on petrol, car maintenance and car accessories.

Shopping

Spending on non-edible, non-durable goods, i.e. clothing, shoes, consumer packaged goods. 

Utilities

Spending on electricity, gas (home) and phone. 

Entertainment & Leisure

Movie streaming, tickets, mobile and console gaming, hobbies, bookshops and other recreation expenses.

Durable Shopping

Spending on long lasting products, such as white goods.

Fitness & Health

Any expenses on gyms, health insurance and chemists

Have questions? Reach out to mediaenquiries@beforepay.com.au for more information.

About the Beforepay Cost of Living Index

The Beforepay Cost of Living Index shows the average daily spend of Beforepay registered users across multiple household expense categories. This article contains selected summary information only and is provided for general information purposes only. The Cost of Living Index data is derived from a Beforepay user’s average daily spend in selected household expense categories per person. The data may vary depending on the main bank account linked with Beforepay. The numbers have not been adjusted for seasonality. To the maximum extent permitted by law, Beforepay and the related bodies corporate of Beforepay, make no representation or warranty, express or implied, as to the accuracy, completeness, timeliness or reliability of the contents of this article. To the maximum extent permitted by law, Beforepay does not accept any liability for any loss whatsoever arising from the use of this article or its contents or otherwise arising in connection with it.