Household costs rising by $110 a week, but incomes by $100

Household costs rising by $110 a week, but incomes by $100
Household costs rise dramatically but so do incomes. (Image: Getty)
Ian Llewellyn
Rising costs are expected to add about $110 a week to household bills over the next 12 months, according to an analysis by ASB economists.While some will struggle, an increase in income should provide an offset for many although household spending is likely to remain subdued.The report – Household Living Cost Update: The income offset – said the headwinds of higher living costs, lower house prices, weaker balance sheets and lower population growth had contributed to “downbeat headlines and weak measures of consumer sentiments&...

More Economy

Recent data gives RBNZ more confidence
Economy

Recent data gives RBNZ more confidence

Recent data has given the central bank more confidence. 

Rebecca Howard 28 Feb 2024
RBNZ keeps OCR on hold, but less hawkish
Economy

RBNZ keeps OCR on hold, but less hawkish

The central bank kept rates on hold at 5.5%

Rebecca Howard 28 Feb 2024
ASB's Shortt: Move beyond 'investing to survive'
Finance

ASB's Shortt: Move beyond 'investing to survive'

The ASB CEO says businesses have been in 'investing to survive' mode.

Dileepa Fonseka 28 Feb 2024
Wild ride in store for the New Zealand dollar
Economy

Wild ride in store for the New Zealand dollar

A rate hike would likely give the New Zealand dollar a big lift. 

Rebecca Howard 27 Feb 2024