Rising Cost Of Housing And Food Prices Leads To Higher Inflation For Households – Statistics New Zealand
Increasing prices were widely felt across all household groups in the September 2022 quarter, Stats NZ said today.
The cost of living for the average household, (as measured by the household living-costs price indexes) increased by 7.7 percent in the September 2022 quarter when compared with the September 2021 quarter. All household groups faced their highest or equal-highest annual cost-of-living increase since the series began in 2008.
Inflation experienced from the September 2021 quarter to the September 2022 quarter:
- all households was 7.7 percent
- beneficiary was 6.5 percent
- Māori was 7.7 percent
- superannuitant was 6.8 percent
- highest-spending households was 8.8 percent
- lowest-spending households was 6.5 percent.
The National and Act parties are saying our Labour government is not managing our economy well with inflation at an all-time high of 7.2 having dropped from 7.3. But if we compare our country with others like our Aussie neighbours, their inflation rate has increased to 7.3 and the Canadians went from 6.9 up to 8.1 and the UK is 10 percent so does this mean all these countries who we like to compare or measure ourselves with, are they all not managing their economies well or is it just a sign of the times.
The National and Act parties are saying our Labour government is not managing our economy well with inflation at an all-time high of 7.2 having dropped from 7.3. But if we compare our country with others like our Aussie neighbours, their inflation rate has increased to 7.3 and the Canadians went from 6.9 up to 8.1 and the UK is 10 percent so does this mean all these countries who we like to compare or measure ourselves with, are they all not managing their economies well or is it just a sign of the times.
NZ New Zealand’s net profit for the year ended September rose 20 percent to $2.3 billion. While many people struggle to pay mortgage increases and other costs our banks are creaming it this doesn’t seem right. Why are our mortgage rates going up is this more corporate greed.
I meant ANZs net profit is 2.3 billion is this fair given we now have to pay more for our borrowing or are they being greedy?