BOOM! Inflation jumps to 3.1%. Where’s your ‘green shoots’ champagne now, Liam Dann?
Well, well, well.
What do we have here?
Price inflation rises to 3.1%, above the Reserve Bank’s target range
New Zealand’s annual inflation rate has risen to 3.1%, a figure that is no longer within the Reserve Bank’s official target range of between 1-3%.
It marked the fourth time in a row that the Consumer Price Index (CPI) – Statistics New Zealand’s official measure of inflation – had risen.
It followed a 3% increase in prices in the previous September quarter, and 2.7% rise in the 12 months to June.
The 3.1% annual inflation rate for the December quarter was the highest since the June quarter in 2024.
Now if you remember correctly, and I think you all do, late last year all the free market cheerleaders who pretend to be journalists were screaming at us that Luxon was right and the green shoots of recovery were finally blooming, Liam Dann actually popped the champagne…
Pop the bubbly, the economic recovery is here (finally) – Liam Dann
…others however (like us here at TDB) were pointing out that those green shoots of recovery were really the dried snot of desperation and that the terrible damage this Government has inflicted upon the NZ Economy had caused vastly more pain than was being anticipated and we would see a surge of inflation which our new Reserve Bank Governor Nordic Queen would immediately respond to with OCR lifts to contain that inflation.
The OCR will be lifted, the Banks will lift their rates, that tiny breathing space for those with a mortgage will be crushed and the economy will fall back into the hole this Government has dug for itself.
Where’s your ‘green shoots’ champagne now Liam Dann?
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Yes, and Dann was not he only fuck wit NZ economist claiming green shoots of recovery. It seems too many of our economist lean to the right we need some balance however economics theory is full of barbs and it does not have all the answers to our woes despite them thinking the contrary.
Yes…the other one the media like to wheel out all the time, who appears to have had way too many ‘power breakfasts’ and ‘power lunches’, is Brad Olsen.
You can listen to what he says, believe the opposite , and then you’ll get somewhere close to an accurate prediction.
The economist who is accurate with monotonous regularity at reading the tea leaves, is Craig Renney.
Olsen is barely out of nappies with little life experience… Renney, on the other hand, has been around…. lived in, observed, and studied other countries that have either failed or succeeded when implementing certain economic strategies.
Greenhornes such as the Prime Minister and his 3 Finance Ministers, Willis, Seymour, and Bishop have foolishly and naively implemented the proven- to- fail strategies.
They don’t know what the fuck they are doing…Renney warned them of the failings pre- election…but no…their hubristic ignorant simplistic vacuity has driven the N.Z. economy straight off a cliff and into a death spiral that is going to take some people with proper knowledge and experience to arrest .
More of the same from the hapless , hopeless Coalition of Idiocy and Clusterfuckery is untenable and will be disatrous for both N.Z.’s short and long term future.
He’s not an economist he’s a bad hack.
Trevor must be wetting himself that his “fake news” things are on the improve jargon is falling into a gaping hole!
Electricity prices increased 12.2% in the December quarter, while local council rates rose 8.8%, and rents increased 1.9%. Other significant contributors were meat and poultry up 8.2%, and telecommunication services up 7%. Petrol prices also increased 2.5%.
Wait what!!! Rents are falling aren’t they, so the rabid righties are telling us?
The cheapest petrol price for 91 octane in Australia is $1.44 and electricity prices are half. Hardly surprising record numbers are leaving for Australia.
NZ is being scammed by this capitalist government. They are the most corrupt in our history.
Those leaving for Australia need to do their homework as many are finishing up in a financial mess. Petrol may be cheap but rego starts at $800 and insurance is through tye roof . You need 10 weeks upfront rent to move I to an apartment and many jobs are unionized so you need to join bef9recyou get a look in
Inflation at 3, 1would have been great in 2023 4.7 and may have meant people had confidence in Labour and not voted them out
Some learnings for you trev 1+1=2 2+2=4 4+4=8 8-4=4 4-2=2 2-1=1
Nonsense.
And clearly English is not your first language given your post reads gibberish.
In Australia they don’t have warrants and fuel prices offset any rego costs. On average one saves $1600 per annum in fuel savings alone so there is a massive savings. National are implementing a new user pays roading charge that will cost consumers much, much more.
Those leaving for Australia are already in a financial mess due to this horrid National coalition, thus the need to leave this corrupt country.
Rental apartments are locked in for 12 months at a time and you can’t be ejected from your rental like National have allowed landlords to do in NZ. As for your anti union stance, again, you are clueless.
Yes I saw the right wing story on the news about all of the failed kiwis being given tickets home from the gold coast .Turned out to have been a total of 2 for the year .What pecentage is that out of 100k that have gone over there .
And let’s not forget what this worst coalition in history has done to ruin our health system by gutting it of its workers. No wonder thousands of health workers have left for Australia and stayed there…
https://www.stuff.co.nz/nz-news/360928156/nurses-and-doctors-tears-ed-goes-code-red-four-times
Green shoots is a clever metaphor. As if neoliberal capitalism is governed by natural ecology. I don’t think so. But now its endemic in public discourse and were are just a short step from believing it must be so.
Green shoots – really – dream on! Hard for the REAL stats to be seen as our media are so complicit in masquerading these. I have just returned from the supermarket where prices continue to spiral every week as we all need to eat to survive! I despise our two greedy supermarket chains. I guarantee they have not as yet absorbed one iota of the increases – just simply passed them on to the already battered, drowning consumers or downgraded their quality! How do they justify this blatant money-grabbing? How do they sleep at nights? It wouldn’t be so bad if our lying, manipulating, totally dishonest Coalition of Crooks could be exposed to show exactly who their”controllers” really are – I believe we only know half the story. What goes around, comes around!
Remember Willis jumping up and down wetting her pants early last year shouting look what Ive done ,when inflation was said to be falling .Now she must be shitting those same pants .And all of those that said inflation was not due to cost of imports when Robertson pointed out the steep gouging by off shore suppliers in 20 /21 when it was rampant .Now there is mention of the excuse that .7% this time is due to imported inflation .Whats changed .?
And all the ranting by the government against councils and rising rates is just bull shit .Like every other business in NZ they have to deal with 3% inflation just like every one of us .If we cap rates that means we will need to cut 3% of services .
The green shoots are there, it’s real.
Yep and just waiting for Labour to get them sprouting
Labour’s Green shoots are real, turned brown by Nationals roundup policies.
Just go by some food Bob no green shoots there just gets more and more expensive every week.
For all our sakes Bob I hope you are right, but it’s more likely you have rolled a spliff with those green shoots and are currently smoking them.
Ahh, the green shoots have browned off and are the same colour ofLiam and Luke’s noses
This is the kind of fuckwittery that pervades economic forecasts and so called free rich man economic experts.
” Speaking at Rātana on Friday afternoon, Finance Minister Nicola Willis said the latest inflation figures backed restrained spending.
“We were right last year to resist the calls from some political parties to be spending a lot more money. That would have put a lot more pressure on inflation and we could have seen this figure go even higher.”
” Consumer prices was up 0.6% in December quarter
The annual inflation rate was at 3.1% from 3.0%, the highest since June 2024
Quarterly growth driven by fuel, airfares and telco services, offsetting cheaper food
Higher food, electricity, rates and rents have driven an annual increase
Underlying inflation remains about 2.5%, which backs the RBNZ keeping rates steady.
Inflation has edged higher on the back of higher fuel, travel, and telecommunication costs backing the view the Reserve Bank will hold interest rates steady for the medium term at least.
Stats NZ data showed the consumer price index rose 0.6 percent in the three months ended December, raising the annual inflation rate 3.1 percent from 3.0 percent, the highest since June last year.
“While the annual inflation rate has slowed considerably since its most recent peak of 7.3 percent in the June 2022 quarter, it has increased each quarter since the December 2024 quarter, when it was 2.2 percent,” senior manager of prices Nicola Growden said.
She said price increases were widespread.
“More than 80 percent of the CPI basket increased in price over the past year – the highest proportion of increases recorded in 8 months.”
Hickey is the only one commenting I take seriously but the problem is he is hidden from the hobbit’s fixation on believing everything they are told and read.
Shopping yesterday ,budget cookies $2.50 last week $2.09 thats more than 3.1% .Thats blatant gouging .
Rego for car gone up to$172 from $132 also more than 3%.
My rego was $104 under Labour.