Brace yourself: Energy, internet and insurance price rises are coming
In this world, nothing is certain except death and taxes – and price rises.
Australians have been warned to brace for heftier household bills due to begin next month – or, in some instances, have already begun.
Although inflation has been steadily slowing since its peak in December 2022, pushed up by COVID-induced global supply chain knots and Russia's war on Ukraine, consumers will have to fork out more for essential expenses such as electricity, phone and internet bills, with energy and telco giants signalling price rises to begin on July 1.
'The financial year definitely aligns with significant price changes, but for different reasons,' said Finder personal finance spokesperson Sarah Megginson.
'For many businesses, the end of the financial year is a time to finalise their budgets, review their operational costs from the previous year, and forecast for the next 12 months. If their costs have increased, there's a good chance they're going to pass those increased costs on to customers.'
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But retail industry consultant Trent Rigby said price rises were becoming less tied to these points of the year.
'I think previously, with customers, it was ingrained in their minds that it was a new year, or a new financial year, so it was probably easier to get that price rise through,' said Rigby.
'One thing we've noticed working with retailers is there's no methodology behind it. We're just seeing price rises throughout the year.'
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The Advertiser
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A Queensland woman was the last person to take home $100 million in February 2024, pocketing half of a $200 million Powerball jackpot. She later moved from Brisbane to the coast. "On a day-to-day basis, not a huge amount has changed," she said this week ahead of Thursday night's draw. "I still get up for the 6am gym session and the dog still needs to be walked and fed." An Adelaide man still holds the country's largest pay cheque from a lottery jackpot, after winning $150 million in May 2024. The odds of a single entry winning the division-one prize are more than 134 million to one. The winning numbers on Thursday were 28, 10, 3, 16, 31, 14 and 21 and the all-important Powerball number was 6. National Gambling Helpline 1800 858 858 Someone has become Australia's third biggest lottery winner ever, after taking out the entire $100 million jackpot in the Powerball draw. The winning division one ticket was sold at one of The Lott's outlets in Sydney's eastern suburbs. The winner was not registered and their identity remained a mystery on Friday morning. "Someone has become an overnight mid-week multi-millionaire but possibly doesn't know it yet," The Lott spokesperson Matt Hart said. "All Sydney players who had an entry in this week's draw should check their ticket as soon as possible." There were also more than three million wins across divisions two to nine in Thursday's Powerball, collectively taking home almost $61 million in prize money. Some six division two winners each picked up more than $282,000. About 10 million Australians were expected to take a punt on winning the $100 million top prize. The last time a jackpot of that magnitude was up for grabs, ticket sales peaked at more than 6400 a minute. A Queensland woman was the last person to take home $100 million in February 2024, pocketing half of a $200 million Powerball jackpot. She later moved from Brisbane to the coast. 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"Someone has become an overnight mid-week multi-millionaire but possibly doesn't know it yet," The Lott spokesperson Matt Hart said. "All Sydney players who had an entry in this week's draw should check their ticket as soon as possible." There were also more than three million wins across divisions two to nine in Thursday's Powerball, collectively taking home almost $61 million in prize money. Some six division two winners each picked up more than $282,000. About 10 million Australians were expected to take a punt on winning the $100 million top prize. The last time a jackpot of that magnitude was up for grabs, ticket sales peaked at more than 6400 a minute. A Queensland woman was the last person to take home $100 million in February 2024, pocketing half of a $200 million Powerball jackpot. She later moved from Brisbane to the coast. "On a day-to-day basis, not a huge amount has changed," she said this week ahead of Thursday night's draw. 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An Adelaide man still holds the country's largest pay cheque from a lottery jackpot, after winning $150 million in May 2024. The odds of a single entry winning the division-one prize are more than 134 million to one. The winning numbers on Thursday were 28, 10, 3, 16, 31, 14 and 21 and the all-important Powerball number was 6. National Gambling Helpline 1800 858 858
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