Household energy expenditure rising annually

The amount that average households are required to spend on energy in the home is increasing at an annual rate of 1.4 per cent.

New data from the Australian Bureau of Statistics (ABS) has revealed the true cost of electricity and gas prices for everyday Australians.

Between 1999 and 2009, energy consumption expenditure jumped from $523 to $610.

Spending on electricity and gas increased ahead of food - 0.9 per cent growth annually - and transport - up 0.7 per cent per year.

Interestingly, expenditure on alcohol and tobacco decreased over the ten-year period - signifying a possible shift in attitudes towards health and wellbeing.

However, households are continuing to pay for rises in the cost of furnishing and household equipment, recreation and accommodations.

The combination of all these rises amount to an overall jump of 1.9 per cent annual expenditure growth.

Households looking to curb rising costs may wish to consult a switching service who can investigate whether or not there is a cheaper rate available for energy in the home.

Changing gas suppliers could save families crucial funds that can be used to cover expenses in other areas.

Posted by Callum Fleming