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Inflation Bites as Australians Say They’re Paying More for Groceries: New Survey

With inflation resulting in higher prices, the average amount Autralians are paying at the checkout has risen significantly in 2022
  Written by 
Adrian Edlington
Adrian Edlington is PR & Communications Manager at Savvy. With a keen interest in personal finance, car loans, the mortgage industry, cost of living pressures, electric vehicles and renewable technology, Adrian's research includes conducting primary data surveys and analysis of up-to-the-minute secondary Australian data sources. His work on behalf of Savvy has been featured on ABC.net.au The Conversation, the Sydney Morning Herald, AFR, News.com.au, The Age, Herald Sun, Adelaide Now, SBS On The Money, 7News, Car Expert, Which Car, Drive.com.au, Auto Talk, CleanTechnica, The Latch, Newcastle Herald, The Examiner, Illawarra Mercury, Professional Planner, New Idea, Canberra Times, Bendigo Advertiser, The Courier, Evee.com.au, MSN, The Australian, Stockhead, Yahoo Lifestyle, Smart Company, Yahoo Finance, Money Management, Proactive Investors, Glam Adelaide, Your Life Choices, Investor Daily, Real Estate Business, Homely.com.au, Money Mag, Yahoo News, Elite Agent, The West, Crikey.com.au, Yahoo Sports, AIB.edu.au, Domain.com.au, Nine.com.au, Mortgage Business, The New Daily, MPAMag, and NestEgg.com.au. In his spare time, Adrian enjoys mountain biking and business podcasts.
Our authors
 
  Commentary by 
Bill Tsouvalas

Guest Contributor

Bill Tsouvalas
Bill Tsouvalas is the managing director and a key company spokesperson at Savvy. As a personal finance expert, he often shares his insights on a range of topics, being featured on leading news outlets including News Corp publications such as the Daily Telegraph and Herald Sun, Fairfax Media publications such as the Australian Financial Review, the Seven Network and more. Bill has over 15 years of experience working in the finance industry and founded Savvy in 2010 with a vision to provide affordable and accessible finance options to all Australians. He has built Savvy from a small asset finance brokerage into a financial comparison website which now attracts close to 2 million Aussies per year and was included in the BRW’s Fast 100 in 2015 as one of the fastest-growing companies in the country. He’s passionate about helping Australians make financially savvy decisions and reviews content across the brand to ensure its accuracy. You can follow Bill on LinkedIn.
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Published on July 6th, 2022

Last updated on March 18th, 2024



Fact checked

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Australian woman choosing green vegetables at the supermarket veggie section

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Savvy's second 2022 cost of living survey, of 1003 Australians, learns what impact inflation and higher prices are having at the checkout. 

  • 33% of those surveyed said their grocery bills have increased by between 11-20%
  • Average cost of a grocery shop estimated at $168.50
  • 21% of women say their grocery bill has increased by between 21-30%
  • Prices set to rise again on 27th of July

Another survey on the cost of living commissioned by Savvy has revealed that half of Australians are paying between 11 and 30% more for their groceries since the start of 2022.

The survey of 1,003 respondents showed that 30% of participants said the cost of their grocery shop has increased by 6-10% since the beginning of this year.

33% say that their grocery bills have increased by 11-20%, while 17% say that their bills have surged by a whopping 21-30%.

21% of women say their grocery shop has increased by between 21%-30%, while only 12% of men reported the same.

The average cost of a weekly grocery shop, when meat, vegetables, dairy, bakery, frozen foods, beverages, and staples such as rice and flour are considered, is $168.50; rising to $189.10 when alcohol is added to the mix.

Inflation Bites as Australians Say They’re Paying More for Groceries: New Survey InfographicInflation Bites as Australians Say They’re Paying More for Groceries: New Survey Infographic

Grocery prices have surged amid a general 5.1% inflation in the economy.

Some fruits and vegetable prices have skyrocketed due to a “perfect storm” of low planting rates and frosty temperatures. Heads of iceberg lettuce have been seen to sell for $11.99 – well above the $2.80 average.

The peak body for Australian produce, AUSVEG says that fruit and vegetable prices have more than doubled due to a similar uptick in the costs of production.

Price pain to persist

Prices are set to rise once again from 27th July, prompted by a 50 point inflation rate rise due this week, according to Daily Mail Australia.

This is due to an unprecedented level of price rise requests – five times the usual rate – from suppliers, according to Coles Group CEO Steven Cain, as told to the Australian.

Pressure on Australian families is only set to grow as the RBA increased the official cash rate by 0.5%p.a to 1.35%p.a this Tuesday.

Economists have indicated that the cash rate will likely hover around 2.5%p.a. by the end of this year.

More than one million Australians are relying on Foodbank services to feed their families, according to The New Daily.

Graph showing how much Australian's grocery bill had increased in 2022

Bill Tsouvalas, Savvy Managing Director & personal finance expert;

“These are families with jobs – and they are struggling to get food on the table,” says Bill Tsouvalas, CEO of Savvy. “With so many people saying that their grocery bills are rising, the most vulnerable among us no longer have food security. This is unprecedented in a so called ‘bread basket’ country such as ours. The worry is that Australians are taking on higher levels of unsustainable debt in the form of payday loans or credit cards, which only serves to kick the can down the road. It’s not a long-term solution. For some, a sensible option would be to consider a debt consolidation loan.”

If you are experiencing acute mental stress due to finances, contact Beyond Blue on 1300 22 4636 or Lifeline on 131 114.

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  Written by 
Adrian Edlington
Adrian Edlington is PR & Communications Manager at Savvy. With a keen interest in personal finance, car loans, the mortgage industry, cost of living pressures, electric vehicles and renewable technology, Adrian's research includes conducting primary data surveys and analysis of up-to-the-minute secondary Australian data sources. His work on behalf of Savvy has been featured on ABC.net.au The Conversation, the Sydney Morning Herald, AFR, News.com.au, The Age, Herald Sun, Adelaide Now, SBS On The Money, 7News, Car Expert, Which Car, Drive.com.au, Auto Talk, CleanTechnica, The Latch, Newcastle Herald, The Examiner, Illawarra Mercury, Professional Planner, New Idea, Canberra Times, Bendigo Advertiser, The Courier, Evee.com.au, MSN, The Australian, Stockhead, Yahoo Lifestyle, Smart Company, Yahoo Finance, Money Management, Proactive Investors, Glam Adelaide, Your Life Choices, Investor Daily, Real Estate Business, Homely.com.au, Money Mag, Yahoo News, Elite Agent, The West, Crikey.com.au, Yahoo Sports, AIB.edu.au, Domain.com.au, Nine.com.au, Mortgage Business, The New Daily, MPAMag, and NestEgg.com.au. In his spare time, Adrian enjoys mountain biking and business podcasts.
Our authors
 
  Commentary by 
Bill Tsouvalas

Guest Contributor

Bill Tsouvalas
Bill Tsouvalas is the managing director and a key company spokesperson at Savvy. As a personal finance expert, he often shares his insights on a range of topics, being featured on leading news outlets including News Corp publications such as the Daily Telegraph and Herald Sun, Fairfax Media publications such as the Australian Financial Review, the Seven Network and more. Bill has over 15 years of experience working in the finance industry and founded Savvy in 2010 with a vision to provide affordable and accessible finance options to all Australians. He has built Savvy from a small asset finance brokerage into a financial comparison website which now attracts close to 2 million Aussies per year and was included in the BRW’s Fast 100 in 2015 as one of the fastest-growing companies in the country. He’s passionate about helping Australians make financially savvy decisions and reviews content across the brand to ensure its accuracy. You can follow Bill on LinkedIn.
Our authors

Published on July 6th, 2022

Last updated on March 18th, 2024



Fact checked

At Savvy, we are committed to providing accurate information. Our content undergoes a rigorous process of fact-checking before it is published. Learn more about our editorial policy.

This guide provides general information and does not consider your individual needs, finances or objectives. We do not make any recommendation or suggestion about which product is best for you based on your specific situation and we do not compare all companies in the market, or all products offered by all companies. It’s always important to consider whether professional financial, legal or taxation advice is appropriate for you before choosing or purchasing a financial product.

The content on our website is produced by experts in the field of finance and reviewed as part of our editorial guidelines. We endeavour to keep all information across our site updated with accurate information.

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Savvy is one of Australia’s largest online financial brokers, focusing on personal and commercial financial products. Founded in 2010, the firm has seen rapid growth, a testament to their provision of market leading rates and reaching customers with the latest in media and technology. Savvy is a proud supporter of Kids Under Cover, a charity assisting homeless and at-risk youth to strengthen their bonds to community and education. Savvy was named one of BRW’s fastest growing companies in 2015.

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