Inflation is largely imported, says Robertson

Inflation is largely imported, says Robertson
Grant Robertson hits back after NZ's inflation hit its highest level in 31 years. (Image: Getty)
Rebecca Howard
The government has come under fire for annual inflation hitting a 31-year high in the fourth quarter – but finance minister Grant Robertson insists the fault lies offshore. The consumers price index increased 1.4% in the December quarter, taking the annual rate of inflation to 5.9%. “The significant drivers of inflation continue to be most strongly influenced by offshore factors, in particular supply chain issues driving up prices in the building sector, and the cost of oil,” Robertson told BusinessDesk.Simon Br...

More Economy

RBNZ keeps rates on hold at 5.5% as expected
Economy

RBNZ keeps rates on hold at 5.5% as expected

Inflation was 4.7% in the December quarter.

Rebecca Howard 10 Apr 2024
Funding ‘crisis’ drives listed providers out of aged care
Economy

Funding ‘crisis’ drives listed providers out of aged care

The cost of delivering aged care services has “accelerated exponentially”.

Gregor Thompson 10 Apr 2024
Opal packaging to cut jobs
Economy

Opal packaging to cut jobs

The company has 715 employees across eight sites in New Zealand.

Murray Jones 09 Apr 2024
Mojo lost, NZ’s battle against gloom
Economy

Dileepa Fonseka: Mojo lost, NZ’s battle against gloom

This country seems to be setting a record for mentions of the word 'mojo'.

Dileepa Fonseka 08 Apr 2024