Everyone feels the inflation pain this time

Everyone feels the inflation pain this time
Over the past 14 years the cost of living has increased much faster for lower income households. (Image: Depositphotos)
Andy Fyers
Between 2008 and June 2021, poorer households experienced an inflation rate more than 50% greater than higher-income households.Superannuitant and beneficiary households had it even worse again, with rates close to double that of households in the top 20%.However, in the past 12 months, during which New Zealand has experienced its worst inflation surge in decades, the impact across different household groups has been much more evenly distributed.For the top 60% of the wealthiest households, the cost of a typical basket of goods, as measured by...

More Economy

ANZ survey: ‘The worst will soon be past’
Economy

ANZ survey: ‘The worst will soon be past’

ANZ-Roy Morgan's survey shows that consumer confidence bounced back from recessionary lows in July.“It’s still very low but has clawed back about half the March-April fall that coincided with ‘recession’ headlines. The lift was driven by improving expectations rather than the...

Staff reporters 26 Jul 2024
The kiwi dollar is falling prey to the bears
Economy

The kiwi dollar is falling prey to the bears

The only worst performer is the Norwegian krone.

Rebecca Howard 26 Jul 2024
Holidays Act: no vacation for taxpayers
Economy In-depth

Holidays Act: no vacation for taxpayers

Let's pay billions of dollars and get nothing new for it.

Nikitin Sallee 25 Jul 2024
Recession worries? Blame China's economic flu
Economy

Recession worries? Blame China's economic flu

Treasury's chief economic adviser says China's economic woes are being felt in NZ.

Dileepa Fonseka 25 Jul 2024