An interesting little item in the Aussie press, if your Australian : Why is food so expensive in Australia compared to other countries?
- According to The Economist Intelligence Unit’s Worldwide Cost of Living 2014 survey, Sydney was the fifth most expensive city in the world to live in. The most expensive was Singapore, followed by Paris, Oslo and Zurich.
- According to Numbeo, a website where users contribute data from around the world, grocery prices in the US were 24.85 per cent lower than in Australia. In Singapore they were 18.52 per cent lower, in the UK 12.25 per cent lower, France 9.67 per cent lower and Japan 9.47 per cent lower.
I quite like this explanation: “what if price is driven by what the consumer is ready to pay rather than what it actually costs?”
But, also:
- Australia needed more competition as there were only two major supermarkets operating in the country.
Anyway, many more possible explanations at the article … choose your explanation and its in there! (link above).
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(ps. Not all bad news
