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HomeMoneyRising consumer prices sees highest inflation rate in 10 years

Rising consumer prices sees highest inflation rate in 10 years

Consumer prices rose 2.2 percent in the three months ended September, taking the annual rate to 4.9 percent

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Rising consumer prices see New Zealand’s inflation rate at its highest level since 2011.

According to the latest data, consumer prices rose 2.2 percent in the three months ended September, taking the annual rate to 4.9 percent.

The consumers price index (CPI) is a measure of inflation for New Zealand households. It records changes in the price of goods and services. It influences interest rates and is used to calculate changes to benefit payments.

Prices rose over 10 of the 11 price groups used by Stats NZ to calculate the rate. The largest surge was seen in the construction industry, with the price of new build houses rising a massive 12.5% for the year.

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1 COMMENT

  1. Little trust can be placed on the CPI as such. It is not a cost of living index but rather a consumer for a basket of goods, with disproportional weights to reality. The true cost of living is much higher than the index suggests. It does not measure inflation correctly either. An outdated tool of over 100 years old.

    We can easily look at the private debt levels, concentration of wealth and falling home ownership to assess the ever increasing cost of living. Yes, a cauliflower priced at $7.50 sells and it does not mean afforability to all. How many kiwis will be able to live without income for a month? Over 50% live on a week to week basis, and they are becoming more and more unhealthy. This is the reality of the rule underJabcinda and the same trend will cotinue under the opposition bald header. Slimy agents of globalists.

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