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Women's World Cup co-hosts Australia and New Zealand have written to FIFA seeking urgent clarification after reports Saudi Arabia's tourism authority has signed a sponsorship deal for the global soccer showpiece.

Football Australia expects global governing body FIFA to confirm Visit Saudi will join international brands such as Adidas, Coca-Cola and Visa as major sponsors of the 32-team tournament which kicks off in July, the Guardian reported.

FA said it understood FIFA had entered into a "destination partnership agreement" for the World Cup and had written to FIFA seeking clarity on the situation.

"We are very disappointed that Football Australia were not consulted on this matter prior to any decision being made," FA said in a statement on Wednesday.

New Zealand Football added in a separate statement: "If these reports prove correct, we are shocked and disappointed to hear this as New Zealand Football haven't been consulted by FIFA at all on this matter."

FIFA and Visit Saudi were unable to provide immediate comment.

Reports of the sponsorship deal drew a scathing response from human rights activists.

"It would be quite the irony for Saudi's tourism body to sponsor the largest celebration of women's sport in the world when you consider that, as a woman in Saudi Arabia, you can't even have a job without the permission of your male guardian," said Amnesty International Australia campaigner Nikita White.

Former Australia international and media pundit Craig Foster said it would be "disgraceful in the extreme".

Saudi Arabia Crown Prince Mohammed bin Salman has in recent years introduced reforms allowing women greater control over their lives but men still retain a tight grip on power.

The kingdom made a major splash in global soccer in recent months with Cristiano Ronaldo joining Saudi club Al Nassr in a two-and-a-half year deal estimated to be worth more than 200 million euros ($A308 million).

The Middle Eastern nation also has ambitions of hosting the men's World Cup in 2030 and is expected to be rubber stamped as hosts of the 2027 Asian Cup at an Asian Football Confederation congress this month.

© RAW 2023

The Reserve Bank has stuck with its peak inflation prediction of eight per cent towards the end of last year and expects inflation to simmer down during 2023.

Speaking at a parliamentary committee on cost of living pressures, RBA head of economic analysis Marion Kohler said the central bank was reviewing its economic forecasts and that inflation had already peaked.

Official inflation figures showed consumer prices lifting at an annual rate of 7.8 per cent in the December quarter.

The RBA has been hiking interest rates since May 2022 in response to soaring inflation.

Dr Kohler acknowledged the pain mortgage holders were feeling from higher interest rates.

"We understand that some people are finding the rise in interest rates difficult to manage and others will have to cut back on discretionary spending.

"However, high interest rates are necessary to ensure that the current period of high inflation and cost of living pressures does not persist too long."

Dr Kohler said Australia's cost of living crisis had hit different income groups fairly evenly compared to other nations.

That's because inflation has been relatively broad-based and pushed up prices for essentials and discretionary items.

She said Europe's cost of living crisis was not being felt equally.

"There, lower income households have been hit relatively harder by higher energy prices than higher income households have been."

The Senate committee, which was set up last year to investigate cost-of-living pressures, also heard from energy companies on Wednesday.

Ampol government affairs head Todd Loydell pointed to the financial burden imposed on its fuels business by measures such as upgrades to fuel standards and strengthening of the safeguard mechanism.

He said the costs associated with meeting these policy priorities and investing in the solutions would ultimately be paid for by consumers.

"So you can see there are trade-offs to be made between the cost of living, fuel security and the energy transition," Mr Loydell said in an opening statement to the Senate inquiry.

The Senate committee on the cost of living will also hear from Woolworths and welfare groups on Wednesday.

Liberal senator and committee chair Jane Hume said the cost of living was the top issue for Australians.

"Prior to the election, Labor said they had the answers. It seems to be getting worse, it's the worst inflation figure we have seen since 1990," she told Seven's Sunrise program.

"At the beginning of the year, with people going back to work and school, Australians are feeling the pinch of the grocery take-out, petrol browsers, paying their bills and mortgages."

But Senator Hume denied that the committee would be used as a witch-hunt against the government.

"We will consult with industry, individuals, groups and find practical, implementable solutions to the cost-of-living crisis."

© AAP 2023

Soaring energy, rent and food prices have been weighing heavily on hip pockets but consumer price pressures are expected to wane.

Speaking to a parliamentary committee on cost of living pressures, Reserve Bank of Australia head of economic analysis Marion Kohler said inflation likely peaked at the end of last year and would start easing over the course of 2023.

The RBA has been hiking interest rates since May 2022 in response to soaring inflation, which hit an annual rate of 7.8 per cent in the December quarter.

For mortgage holders, there's likely more pain to come.

Dr Kohler acknowledged the stress on home borrowers but said high interest rates were necessary to ensure high inflation doesn't linger.

The central bank estimates more than 800,000 households will fall off fixed rates onto more expensive variable rates, amounting to around $350 billion in expiring credit.

In the supermarket, shoppers are yet to change their behaviour in response to cost of living pressures.

Woolworths Group chief commercial officer Paul Harker said the supermarket brand had not noticed a discernible shift in shopping habits but customer surveys suggested households would likely start tightening their belts.

"Customers were expressing intentions around needing to adjust their purchasing patterns, behaviours, and the like," he told the committee on Wednesday.

The Senate committee also heard from groups representing welfare recipients.

Australian Council of Social Service chief Cassandra Goldie said low-income Australians were in crisis long before inflation started surging.

She said people on income support payments were routinely going without essentials, and the council is urging the government to lift JobSeeker and other support payments to support the most vulnerable.

Energy Consumers Australia policy director Jacqueline Crawshaw confirmed the energy bill pressures households and businesses were experiencing.

She said surveys of energy users found most people did not expect the clean energy transition to lead to higher energy prices.

"They actually see addressing climate change as something that they expect to happen, that they want to happen, they also expect the lights to stay on but they also expect it to be affordable," Ms Crawshaw said.

"They don't expect to have to trade off on those things."

Liberal senator and committee chair Jane Hume said the cost of living was the top issue for Australians.

"Prior to the election, Labor said they had the answers. It seems to be getting worse, it's the worst inflation figure we have seen since 1990," she told Seven's Sunrise program.

"At the beginning of the year, with people going back to work and school, Australians are feeling the pinch of the grocery take-out, petrol bowsers, paying their bills and mortgages."

But Senator Hume denied that the committee would be used as a witch-hunt against the government.

"We will consult with industry, individuals, groups and find practical, implementable solutions to the cost-of-living crisis."

© AAP 2023