Cost of living: Inflation rates underestimate New Zealanders’ true pain, data shows
New Zealanders have faced a higher rise in costs than the official inflation rate, data from Stats NZ shows.
The latest Household Living-costs Price Indexes (HLPI) showed a 7.7 per cent increase in costs for the average New Zealand household in the year to March 2023.
The official inflation rate for the same time was 6.7 per cent.
Increases in the cost of food, rent and interest payments were the main contributors to this increase.
Official Inflation went from 7.2 to 6.7 and the Peakers are out in force claiming inflation has been tamed and we can all get back to the orgy of capitalism fuckfest we all know and love.
These Peakers are wrong!
Dig into the Official Inflation numbers, food inflation is exploding above 20%, the drop was due to petrol prices down over 8%.
This was driven by Biden tapping his oil reserves to bring in global price stabilisation.
OPEC responded by announcing global cuts which take effect next month in May.
This at the very same time as the Government’s subsidy comes off petrol prices.
What this all means, is that as the full impact of the cyclone on horticultural industry hits food prices, we will have a spike in petrol prices.
Orr will raise by another 50 points because he knows what is coming.
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Now just wait for the effects of a lower value of the dollarNZ that we will soon see emerging.
Increasing the cash rate will be cruel, uncaring and unnecessary. But ….. increasing the cash rate will be fair! Fair for whom?
You can bet on the RB increasing the cash rate.
All AO/NZ’ers have to do is creatively react to, and against, what I’d call the Kiwi-As fascist-capitalist autocracy and brought to you by multi-billionaires.
“19,300 mortgage accounts are past due” according to the fascists bestie, rnz.
https://www.rnz.co.nz/news/national/489079/more-homeowners-falling-behind-on-mortgage-payments
Well, so what. Foreign owned banks say this and that. They said “Wow! property values are soaring! You must get on the ladder! Quick!” So 19,300 people did and now they can’t afford the rope to hang themselves since they’re already up the ladder and in what they might perceive is deep shit.
Well, just stop it! Simply ignore the banks and when things get post-legal, put up a massive fucking scrap and drive the bastards into the ocean.
Chippies spurting his widdle brain farts about what he perceives is the inevitability of our AO/NZ becoming a democracy. Sound familiar? Does that sound like bank-talk? If AO/NZ became a ‘republic’ the banks would rule every single aspect of what would surely be our even miserable lives that our miserable lives already are.
The only thing that might save our dumb arse’s is the Treaty. Just keep thinking, for Gods sake.
The cost of living is a similar swindle. The ol cost of living aye… Why are the costs of existing becoming more costly?
Could it be that those whom supply us with the things we need to live are simply ratcheting up prices because they can? I think it could be called opportunistic greed. Steven Minto explained it better than I could. He wrote here and I paraphrase ” The inflationary effects that bedevil us isn’t due to a lack of money supply. It’s due to the presence of price increases.” $10.00 for twelve eggs. $7.50 for a block of Fruit and Nut.
What does that say? What kind of statistic is that? What are our enemies, the banks, going to learn from this?
I think it could be something like ” We can do what ever we like to AO/NZ’ers and they’ll just take it like they’re our snivelling little servants.
Here’s what you should to with your mortgage documents. Tear them up then go down town and burn down the banks.
Why are eggs trading at $1 per single share?
Here’s why:
Headline Nov 2022: Egg shortage to reach cracking point as new farming restrictions come into force next month.
This stupid govt for the people hadn’t thought about eggs being a staple protein for people who can’t afford a lot. But it does look after the chickens.
the thing is the new regs are not that onerous and NZ egg farmers have known of the coming change for 10yrs, so the blame for this one lies with the egg producers gabbage hut
Known unintended consequence?
Spending nearly $100mil tax to help the wealthy own ev’s. Known unintended consequence!
This government has done more than any government to redistribute wealth to the wealthy.
Let them implement a capital gains tax. Known unintended consequence of this is that the wealthy will get wealthier.
Let’s do this.
Bank Mortgaging is a Financial scam? Lending Currency, magically created out of Thin air via Fractional Reserve banking & then charging usury Interest on the Fake money & with the Property asset held by the Bank as Collateral which they will get if the Customer defaults, what a great deal.
Actually yes it is a great deal this bank mortgaging and general financing. At its basic level it enables a stable community with a stable mercantile level to ‘bank’ on that stability continuing and to borrow to add extra useful things to their resources, homes being personal ones. It is a useful method, even though a sort of sleight-of-hand that enables improvements and slow increase in standard of living and better providence and husbandry.
But finance has been fine-tuned to breaking point as human nature tends to when given rein to advantaging oneselves. It’s value is undercut by being overplayed. We forget what money and finance is as you pointed out Af6s.
Just went to the IRD site and worked out tax on 60k – it’s 11k or 18% tax rate. If CPI goes up 15% (which at current rate is about 2 years worth) and you get a pay rise equal to that, then you get a 9k pay rise. But tax on that is at 30% meaning you are now paying an extra $20 PER WEEK in tax (compared to it being taxed at that 18% rate).
Forget about those 300 rich families and CGT – the real suckers paying more tax to the govts bulging coffers is the poor and middle class. And they’ve ruled out indexing the tax bands. They are not our friends.
Never mind the increase in GST the government takes every time you buy a loaf of dollar bread and margarine. Bread and butter is for thoset that have a lunch allowaces such as the critters in parliament.
There must be a workaround for those on median wage, did the elites use trusts to halve their tax or was that exploiting something other than income?
I want school/ work lunches for everyone ( adults In cluded ) earning 70k and under. Gluten Free options also.
@ Marco+Battler. You forgot to add a three day working week, six week’s annual leave and 21 days sick leave entitlements and vegetarian/vegan options with the free lunches.
And free transport internationally.
Business class only thanks!
Yes Business Class only it’s what I’m accustomed to.
It’s the only time I turn left.( On boarding.)
I feel this is a great idea!
Add in free fuel on Fridays and free public transport.
Let’s do this.
Sounds good. Got the warm fuzzies already
Lower prices woild mean less GST income. We do not want that, do we?
How could we then subsidise buyers of $80k EVs?
Remove GST and see how the wealthy get wealthier. Then we just tax wealth and everyone live happy ever after.
Then we remove personal tax and see how even the poor grow so wealthy that we can start cutting wealth taxes back to more affordable levels.
Annnd then you woke up!
All the result of a Labour Government that mismanaged our economy
(Read the IMF report on our economy.)
Let’s face Bob they did lots of things National would have done because there is a lot in common. Luxon and Wills combined own what, 12 houses? . Of course Labour also created the weather events as well, and the war in Ukraine and gas prices ( don’t give me some shit about drilling permits and Marsden Point because the Nats would not have purchased a refinery)
Oh dear, you really aren’t awake are you?
Bobblehead. How many times do you have to be reminded how boring and one dimensional you are. Khali wept. Jesus wept. Here it fucking is. The parasitic tears of the dying of the bobbleheads. Ching ching ching has been replaced by Cling cling cling. Paradigms are shifting big time comrade. Happy to give you a hand up, when you’re ready to get real. Are you ready bobble?
I’m thrilled my posts are so enlightening,I’ve attracted quite a fan base.
Sinic thank you,thank you,old sport.
Well kiwis are a bit thick ay? They’ll vote in another neoliberal government instead of capitalising on a potential ‘hung-parliament’ ay??
Giddy up dummies!!
I ran out of money at PaknSave. Called Robbo and asked if he could print some more money? Hang on he said, I gotta finish my Leamington and my Pie. He called me back rightaway and said, how much do you need? I’ll print it.
PaknSave I realise contains the political slogan we need for the near future – SaknPave. If we could only do that. And different sort of paving than the type that goes into tarseal. Pave the way to a manageable future despite rain, more rain, liquefaction, trees falling down etc, or not having enough water, or not having enough drinkable water and seeing it being exported to other countries …And so it goes.
I love NZ and nearly all the people in it, we are too good to be trashed like this along with the animals that we live alongside, and the fish we swim with and rush to help when the big ones get washed ashore which we seem to lack the nous to prevent despite us knowing everything that it is possible to know! But we do have traces of cunning, and slyness, which can be good and useful. Let’s save ourselves from the political and bent people turned zombies.
By the way I think the woke people are just ones who have been infected by a bad thought virus, happened in the 1960-70s. And the trans people are reacting to evolutionary processes as a result of changes in our human and natural environment trying to fit themselves, (survival of the fittest) to enable us to cope in the very near future. Darwin would be fascinated by this I believe; Maybe there’s something in that he would say! These are thoughts that have occurred to me lately.
What a sad idea – to force inflation rises on us that are unaffordable to illustrate what shitty methods are being used for tracking inflation for the regular person in NZ. One that manages to allow housing to go sky high yet hardly register on the inflation count, and float away while people are holding onto the ropes in a tug of war. We aren’t so gormless that we haven’t noticed this and commented on it you smooth, slimy graph builders. We can’t live in graphs.
My suggestion is to return to material measures. Like Bill Phillips. The Moniac. Go back to basics – it runs on water and so should economists and financiers. No whiskies and fine wine for you lot. I’m serious. Behave or a woke dominatrix will pull your pants down and give you a good whipping. You will not enjoy this, or else. Get moving before the fun part stops and the angry smelly lumpenproletariat start lumping around your sacred well designed portals.
https://www.youtube.com/watch?v=rAZavOcEnLg The Reserve Bank’s Moniac. Do not allow deterioration of the machine or the Reserve Bank through stupidity and mismanagement and result in a moaniac.
Terry Pratchett has a good light read in this line – ‘Making Money’.
https://en.wikipedia.org/wiki/Making_Money
Ok it is no secret that the world is turning to crap…do people want to be spectators or do something? that is the key question…
Passivity, imported political weirdness and online commenting are not what is needed right now. There is something practical almost everyone can do in each community, street, suburb, and region.
What are YOU doing?
I’m interested in what Tiger M says – Martyn can we have what I think is called a sticky post that pops up in the Raw Feed or somewhere down in the cheese cellar where the magic cultures are all working to produce some gourmet politics?
When someone puts something on the sticky post, it will pop up into Raw Feed. Maybe while lying quiet it would be accessed from the Active Bloggers – Bloggers heading at top. So always accessible for past ideas and able to be used somehow from in Raw for new ones. Is that possible and feasible?
Then we could read what is happening from all the disparate people and groups around the rohe and feel inspired to follow up ourselves within our own location. I feel a need for this to prevent hopelessness from getting control of our minds. Merely seething with anxiety and simmering with ideas becomes an empty existence at end. Thinking Well I tried, soothes the mind but if it doesn’t lead to betterment it is hollow. I want to know what good ideas are working and doing. I supported Values, I supported New Labour, I supported Greens but it all has a Pastor Niemoller feel to it now. (Don’t know him, look him up – he’s a worthy one to know about.)