If, like many Australians, you’re starting to feel the pinch on rising costs like petrol and groceries, the bad news continues to come.
 
The latest inflation figures were released yesterday revealing a CPI increase of 6.1% over the year to 30 June. That’s a record high, but it’s not the sort of record we want to be setting.
 
Unfortunately, the inflation increase all but guarantees another 0.5% interest rate rise in August.

And many economists expect price rises to get even worse before things get better, with inflation tipped to reach 7% by the end of the year.
 
The signs overseas are even worse, with inflation at a 40-year high of 9.1% in the US and 8.2% in the UK, while across the ditch in New Zealand it’s at 7.3% — a 32-year high.

In other news, you may have heard that the state government is offering households a $250 rebate to compare and switch energy providers.
 
Pleasantly, it turns out it’s not a scam! How do I know? I’ve done it and received the cash!

Rather than me give you a link to click, Google “$250 electricity rebate Victoria” (or something similar) and you’ll be taken to compare.energy.vic.gov.auFill in your details and compare your bill against other providers, and you’ll receive your rebate in around a week. Applications are open between 1 July 2022 and 30 June 2023.