FYI: the lap of luxury? Average Aussie household spending

“Some comparisons for where an average household spends its money: purchases of tobacco make up 2.5 per cent of average household consumption, the same as electricity. Spending on meals out and take away foods accounts for 5.5 per cent; alcohol 4.8 per cent; rent 6.9 per cent; petrol 3.5 per cent and holidays and accommodation 4.9 per cent… Think about it. The average household spends as much on tobacco as electricity and spends more than twice that amount on takeaway food and restaurant meals… Yesterday’s inflation report should smash the myth that people are doing it tough given it clocked up an eleventh consecutive year where wages growth has exceeded the inflation rate.” Source here.

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