Economy

Everyone feels the inflation pain this time

Andy Fyers
Fri, 29 Jul 2022

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
Fri, 29 Jul 2022
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...

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