The Latest Breaking News from Commonwealth Bank

Australians are buying fewer groceries and household goods as soaring prices and rising mortgage rates squeeze everyone from workers to retirees.

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Here's what you need to get caught up on today's news.

All of Australia's biggest banks have lifted mortgage rates, matching the Reserve Bank's 25-basis-point increase.

Millennials and their young families make up the majority of people moving from the city to the country, as regional migration hits a record high.

Young families are heading for regional areas in droves and many say they couldn't be happier with their lives away from the big smoke.

As the Albanese government works on getting legislation ready for its highly anticipated corruption watchdog, calls are growing for it to boost protections for whistleblowers and drop criminal prosecutions against Richard Boyle, David McBride and Bernard Collaery, and to advocate for Julian Assange.

Petrol prices have eased below $2 per litre, ending a six-week run of increases, but rising global oil prices suggest this relief will be short-lived.

Home owners slapped with bigger mortgage bills are being told not to settle for rising interest rates, with tight competition leading to better deals.