It was not a good news day for the nation's mortgage holders as the Reserve Bank lifted the official cash rate for the fourth consecutive month.
RBA governor Philip Lowe warned further increases should be expected as the bank aims to combat inflationary pressures in the economy.
He said both global and domestic factors had driven Australia's inflation levels, which the central bank predicted would peak at 7.75 per cent his year before falling to 4 per cent in 2023.
Federal Treasurer Jim Chalmers told parliament the latest rise would not be any easier for Australians to handle, even though they expected the decision.
"It's not a shock to anybody, but it will still sting," he said.
It might have been expected, but it still hurts as homeowners start the recalculation of their budgets.
Cost of living pressures are adding up for people around the country and there are renewed calls for the federal government to do more to help.
The Greens have called for a more expansive cost-of-living relief package funded by higher corporate taxes.
There are also calls to extend the temporary halving of the fuel excise.
Prime Minister Anthony Albanese said its hands were tied by national debt levels it inherited from the Coalition.
Avocados might be cheap at the moment but the hit to the family budget across the country might be putting the kibosh on dining out on the smashed- with fetta cheese variety.
The nation's favourite footy champion-turned-Senator David Pocock also turned a few heads in Parliament's annual State of Origin fixture.
Not because he used his impressive skills on the field for good use (he held back) but because of his decision to don a Queensland jersey.
It's one of the first decisions he's had to make as a new senator, and it could well be one that upsets a few of his constituents.
The former Wallaby, who was known for his strength on the field, was notably gentle, perhaps keeping his upcoming first speech in mind when he'll promise to be a "peacebroker of parliament", which he delivered later in the day.
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