COST OF LIVING CONTINUES TO RISE AS AUSTRALIANS FEEL THE PINCH
If it feels like everything is more expensive right now, that’s because it is
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Mortgage interest charges were responsible for the greatest increase in living costs over the December quarter for employee households, data released by the Australian Bureau of Statistics yesterday shows. This uptick in costs follows decisions by mortgage lenders to pass on consecutive cash rate rises by the Reserve Bank of Australia which saw it increase by 300 basis points or 3 percent in 2022.
The statistics, showing price increases across all five Living Cost Indexes (LCI) in Australia — the largest rise since the September 2000 quarter — paint a picture of households under increasing pressure to balance budgets while maintaining their current lifestyles.
While interest rates accounted for a 26.6 percent rise, Recreation and Culture, including travel rose by 5.5 percent over the holiday period, followed by Housing at 2.2 percent and Furnishings, household equipment and services at 1.8 percent.
National electricity prices also increased as the Western Australian Government’s $400 electricity credit offer came to an end. However, this was mitigated by the Queensland Government’s $175 Cost of Living rebate which came into effect in September last year. The Tasmanian Government has also introduced a $119 Winter Bill Buster electricity discount for concession households.
The RBA board is due to meet next week for the first time this year with most experts predicting a further rate rise of 0.25 percent.
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The partnership gives Citizen Kanebridge members priority access to elite rallies, track days and Formula 1 hospitality, beginning with the Australian Grand Prix.
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Citizen Kanebridge Car Club has announced a major new partnership with Bullrush Rally, Australia’s leading automotive lifestyle community, unlocking a powerful series of exclusive driving and motorsport experiences for its private members.
The collaboration will give Citizen Kanebridge members privileged access to Bullrush Rally’s coveted calendar, including supercar rallies, private track days, curated drive events and premium Formula 1 hospitality.
It marks a significant expansion of the club’s automotive offering and reinforces its position as a private members’ platform built around access, connection and exceptional experiences.
“This partnership with Bullrush Rally represents exactly the type of exclusive opportunities Citizen Kanebridge was created to deliver,” Marwan Rahme, CEO of Kanebridge Media, said.
“Bullrush has built an extraordinary community around automotive passion and lifestyle, and we’re incredibly excited to give our members access to these experiences.
“It’s about creating unforgettable moments and bringing like-minded people together through shared passions.”
The first experience available through the partnership will see Citizen Kanebridge Car Club members offered access to the Bullrush Rally Suite at the Formula 1 Qatar Airways Australian Grand Prix in Melbourne on Sunday, March 8.
Positioned on Walker Straight with a private trackside balcony, the Bullrush Rally Suite offers prime views of the main straight alongside gourmet dining, premium beverages, live entertainment and exclusive hospitality.
Guests will also have the opportunity to meet Günther Steiner, the former Haas Formula One Team Principal and one of the sport’s most recognisable figures, following his starring role in Netflix’s global hit series Drive to Survive.
Known for his candid leadership style and pivotal role in establishing the Haas team in Formula 1, Steiner has become one of the most influential and charismatic personalities in modern motorsport.
Founded in 2014, Bullrush Rally has grown into one of Australia’s most respected automotive communities, bringing together successful entrepreneurs, executives and enthusiasts through curated rallies, track days and high-end lifestyle events.
Beyond its luxury experiences, the organisation has raised more than $250,000 for charities supporting sick children, mental health initiatives and medical research across Australia.
Through the new partnership, Citizen Kanebridge Car Club members will gain priority access to Bullrush’s flagship events, including multi-day rallies, Formula 1 hospitality suites, exclusive track days and private member-only gatherings.
The collaboration represents a significant evolution of Citizen Kanebridge’s automotive offering, positioning the club at the centre of Australia’s most exclusive driving and motorsport experiences, while continuing to deliver the access and opportunities that define the private members’ platform.
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