Durable goods shopping led a 3.7% month-on-month increase in daily average spending among Australian households, up to $62.91 in June from $60.69 in May, according to the June 2024 Beforepay Cost of Living Index.
An 8.2% spike in durable goods expenses during the end of the financial year (EOFY), pushing the daily average spend for the category up to $7.29 from $6.74. The overall month-on-month increase mirrors a trend seen during the same period last year.
A year-on-year comparison shows a 6.8% increase in overall daily average spending from $58.88 in June 2023.
According to the Index, daily average spend increased across all tracked household spending categories, except for utilities.
In addition to the increased spending in durable goods, food and drink expenses saw a similar increase, up 7.8% to $10.93 from $10.14.
Utilities expenses remained relatively stable, decreasing 0.2% month-on-month to $6.83 in June from $6.83 May. The year-on-year comparison, however, shows a 14.2% annual jump in daily average spending on utilities, up from $5.98.
Below is a full month-by-month breakdown over the last 12 months. See sub-category descriptions here.
Below are brief descriptions that outline the type of expenses applicable to each spending category.
Grocery stores where raw vegetables and meat are sold.
Any restaurant, pub or vendor that sells food that is not prepared or processed, i.e. not groceries.
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.
Movie streaming, tickets, mobile and console gaming, hobbies, bookshops and other recreation expenses.
Spending on long lasting products, such as white goods.
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. As of March 2024, the average annual individual Beforepay customer gross income was $65,783 (counting only the main source of income) with a broadly representative geographic and gender breakdown. The data may vary depending on the main bank account linked with Beforepay. To the maximum extent permitted by law, Beforepay and its related bodies corporate, make no representation or warranty, express or implied, as to the accuracy, completeness, timeliness or reliability of the contents of this article and do 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.The Beforepay Cost of Living Index shows the average daily spend of Beforepay registered users across multiple household expense categories.