MORE Bendigo residents could feel the pinch if the Reserve Bank raises cash rates again in the months to come.
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Credit bureau illion made the prediction as it revealed the likely impact on individual Bendigo suburbs of Tuesday's decision to raise the rate another 25 basis points.
The city was already above regional Victoria's average for people at least one month behind on mortgage repayments before Tuesday's ruling.
About 0.68 per cent of people with open home loans in the Bendigo area are currently behind, compared to 0.62 across all of regional Victoria, according to illion.
The number of households falling behind is expected to grow as the cumulative effect of a record nine straight rate rises make themselves felt.
Pain could intensify if Reserve Bank acts again
The shock of any new rate rise could appear imperceptible in suburb-by-suburb statistics - perhaps rising as much as 0.1 per cent in some areas - illion's numbers suggest.
But that will build on the pain residents in the fast-growing city of Bendigo have already been soaking up.
Charitable groups across the city have had rising numbers of people seeking help for some time as rampant inflation fuels a cost of living crisis.
One of the 80 groups - Bendigo Foodshare - supplies has seen a three-fold increase in demand since late last year, with all others blunt about the pressures their clients were grappling with, chief executive Michelle Murphy said.
"It's like nothing we've seen before," she said.
Ms Murphy was particularly concerned about people in flood ravaged areas to Bendigo's north.
"The pain from the floods hasn't stopped, so it's a pretty bleak picture," she said.
Rochester - which copped some of the worst of last spring's floods - has even higher proportions of people behind on there mortgage payments.
Of its 412 households with mortgages, 0.8 per cent are already behind. That could rise by 0.9 per cent simply because of any more rate rises, without counting the ongoing impact of widespread property damage, effects on livelihoods and rampant inflation.
Some time before Reserve Bank tames inflation
Reserve Bank governor Phil Lowe warned it could be some time before inflation of as much as 7.8 per cent was reined in to a more preferable two to three per cent range.
"The Board's priority is to return inflation to target," he said in remarks following the bank's decision.
"High inflation makes life difficult for people and damages the functioning of the economy. And if high inflation were to become entrenched in people's expectations, it would be very costly to reduce later."
Mr Lowe acknowledged some were already experiencing the "painful squeeze" from cost of living pressures and, in many places, falling house prices.
He saw some light on the horizon as inflation started to decline in 2023 and global factors fully kicked in.
Until then the bank was prepared to "do what is necessary" to make sure high inflation was temporary, Mr Lowe said.
Ms Murphy encouraged anyone in need of food relief to visit the City of Greater Bendigo's website and view the list of all venues that could help.
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