July 2023 Beforepay Cost of Living Index

Tax season drives 10.6% increase in daily spending in July 2023

Ethical-lending fintech Beforepay released the July 2023 Cost of Living Index today, showing a 10.6% increase in average daily spending to $65.13, up from $58.88 in June. Data from more than 400,000 Australians showed increased consumption across all spending categories. Year-on-year spending is down 2% from $66.46 in July 2022. July 2022 also saw a larger month-on-month increase at 18.2%.

Durable goods saw the largest increase in spending, with the average daily spend up 23.4% from $6.55 in June 2023 to $8.08 in July 2023. This includes expenses for items such as electronics and whitegoods.

Discretionary spending rose in July 2023, led by entertainment and leisure, up 15.4% to $3.52 from $3.05 in June 2023, and food and drink, up 15% to $12.02 from $10.45 in June 2023. Entertainment and leisure expenses are also up 11% year-on-year from $3.17.

Household essentials saw a modest increase in spending in July. Grocery expenses rose 7.8% to $15.85 from $14.72 in June, while petrol and auto was up 7.1% to $7.99 from $7.46 in June. 

The Beforepay Cost of Living Index for July 2023 is $65.13.

Daily spending rose by 10.6% from $58.88 in June 2023 to $65.13 in July 2023, according to the Beforepay Cost of Living Index.

Utilities continue to see a gradual increase as households face rising power bills. July showed daily spending on utilities was up 8.2% to $6.47 from $5.98 in June 2023. Year-on-year the figure rose by 11% from $5.83 in July 2022. 

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

Daily spending rose by 10.6% from $58.88 in June 2023 to $65.13 in July 2023, according to the Beforepay Cost of Living Index.

The Beforepay Cost of Living Index includes various household expenses such as utilities, groceries, food and drink, shopping, petrol, and fitness and health, providing a comprehensive overview of consumer spending, and is drawn from the spending data of more than 400,000 Australians.

Cost Of Living Sub-Category Descriptions

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


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.


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


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.