How Australians are spending an extra $1924 a year more on groceries as the cost of living rises… but here’s how you can save at the grocery store
- Research finds Australians are spending far more on groceries
- Households are paying $1,924 more compared to last year
- Equals an additional $37 per week or a 25 percent increase
Australian families are spending $1,924 more on their purchases compared to last year as the country’s cost-of-living crisis continues to escalate.
The sharp increase was revealed in a recent survey of more than 1,000 households by the comparison website. Discoverer.
The average household now spends $185 a week on groceries, which was $37 more than in February 2022.
That figure equates to a 25 percent increase in grocery weekly, a total of $18.8 billion nationally.
Steve Price of The Project said on Monday night’s episode that every day Australians are feeling the pinch.
“I just don’t know how families with three or four children manage,” she said.
Australian households are spending almost $2000 a year more on groceries on average compared to last year (file image)
Everything has gone up. I guess people are buying cheaper cuts of meat or using leftovers to serve for lunch the next day.”
He added that it was “very difficult for people” when you take into account increases in mortgage payments, fees, energy bills and gasoline.
Co-host Waleed Aly referred to a recent report explaining how supermarkets were among a list of businesses that contribute to inflation through “price gouging.”
“They are taking advantage of the inflationary environment to charge more than they are charging because of the additional costs they are receiving,” he said.
“I think the government needs to form an opinion on that.”
Exactly 43 percent of households listed groceries as one of the three most stressful expenses, according to the Finder survey.
Finder’s research found that households were spending $37 more on their weekly purchases, an increase of 25 percent from February 2022 (file image)
Nearly half of all households surveyed listed groceries as one of their three most stressful expenses (file image)
The report also reveals that millennials are spending more than other generations. Their weekly spending is $197, compared to $149 for baby boomers, $187 for Gen X and $186 for Gen Z.
Finder money expert Sarah Megginson said households are facing “very difficult times” as rising food costs become a huge additional burden.
“Australians have to change how and where they shop just to keep food on the table,” he said.
Those living in Western Australia have seen the steepest rise in their weekly grocery bills, which have risen by more than a third, while NSW residents are coughing up more than any other state.
Finder money expert Sarah Megginson recommended families stick to a shopping list, shop late at night and stock up on essentials when they’re on sale to save money (file image)
But there are several ways that families can save money on their weekly grocery shopping.
Ms. Megginson recommended sticking to a shopping list so you don’t “lose money on unplanned purchases,” shopping late at night when meat and poultry are up to 80 percent off, and signing up for the rewards program at a supermarket.
He suggested that households also “stock up on essentials when they’re on sale and shop online for big-ticket items like laundry detergent and pet food.”
Other ways households can save could be by buying frozen or canned foods, buying store brands, and avoiding specialty ingredients.
The price of groceries has risen nearly 10 percent over the past year.
Australia’s National Food Supply Chain Alliance forecasts an 8 percent increase through 2023.
How to save money at the grocery store amid the cost of living crisis
1. Shop at night
2. Buy in bulk
3. Buy frozen or canned
4. Find a co-op or farmers market
5. Go to specialized stores since they are closer to the suppliers, usually
6. Choose imperfect foods
7. Buy own brands
8. Shop according to the season
9. Cut down on meat
10. Avoid special ingredients
11. If you don’t like it, return it
12. Get Discounted Grocery Gift Cards