As Australians begin to prepare for the festive season, thoughts naturally turn to the prospects of a substantial meal to celebrate Christmas. Unfortunately, the traditional Christmas dinner will likely make a bigger dent in household budgets this year, with the costs of a specially weighted* “Australian Christmas Dinner Index” rising by 2.2% through to September. The increase represents the fastest annual increase in the cost of Christmas dinner since 2012.
Since 1989, the cost of Christmas dinner has risen by 92%. All the underlying components of the Australian Christmas Dinner Index have risen over the course of 2019, with the following registering the largest price increases:
- Poultry (+4.2%)
- Vegetables (+3.1%)
- Pork (+3.0%)
For those that enjoy a seafood dinner, fish and other seafood prices have risen by 0.8% since last Christmas. Snacks & confectionary rose by the least amount, registering a 0.2% increase.
Australian Christmas Dinner Index
Source: Fidelity International, Australian Bureau of Statistics, December 2019. Index = 5% bread, 10% cakes and biscuits, 20% pork, 15% poultry, 15% fish and other seafood, 10% vegetables, 10% snacks and confectionary, 15% alcoholic beverages. 2019 = as at end September.
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