GROCERY RIP-OFF: Four items Aussies pay more for
ANYONE who has ever done a grocery shop knows those essential household staples don't come cheap.
But according to one of Australia's leading finance gurus, we're actually paying some of the highest grocery prices in the entire world.
Speaking on Channel 9's new Eat Well For Less program, finance expert Ross Greenwood revealed Sydneysiders were paying more for certain items than other notoriously expensive global cities, with cheese, mince, tomatoes and apples the biggest culprits.
"Living in Australia, it's not cheap. When it comes to groceries, we pay some of the most expensive prices on the planet," Mr Greenwood said.
"A recent study showed that groceries in Sydney are more expensive for the same groceries as those in New York, London and Hong Kong.
"But what really pushes us into that top spot is the amount we spend on … cheese. Now if you take that out of your shopping, then New York would take the top spot, but what's also incredible is that we pay the most for apples, tomatoes and mince, which are all things we produce right here in Australia."
Mr Greenwood said there were also huge fluctuations in grocery prices between the states and territories, and advised shoppers to beat the grocery price hikes by swapping those particularly pricey items for different cuts of meat and other, cheaper fruits and vegetables.
While Mr Greenwood does not reveal which survey he is referring to, it is most likely the Economist Intelligence Unit's recently released Worldwide Cost of Living 2018 report.
Comparing the prices of 160 products and services, the report analysed 130 cities based on the cost of food, clothing, rent, transport, utility bills, private school fees, domestic help and recreational costs.
It found Sydney to be the tenth most expensive city in the world, with Singapore, Paris, Zurich, Hong Kong and Oslo taking out the top five spots.
Australia's notoriously expensive groceries have traditionally been blamed on our relatively high wages, geographical isolation, small population, strict food regulations, supermarket duopoly between Coles and Woolworths and a general social acceptance of high prices and product mark-ups.