Although health and energy costs were up, food and leisure costs dropped, with a couple aiming for a 'comfortable' retirement standard of living needing to spend $56,317 a year – a slight dollar-per-week decrease on the December 2012 figure. This represented an approximate 0.1 per cent decrease.
Costs in other areas such as overseas travel and electrical goods also eased due to the strong Australian dollar, benefiting those seeking a more comfortable standard of living.
However, the cost for a couple seeking a modest retirement – who would benefit less from the falling cost of luxury items – actually rose slightly to $32,603.
The movement in costs over the quarter for retirees was lower than the 0.4 per cent increase recorded in the All Groups Consumer Price Index (CPI), which included a 5.7 per cent increase in education prices in the quarter.
