Saturday, July 29, 2023

Oliver Hartwich: Economic expert says homeowners are disproportionately feeling cost of living crisis pain

An economic expert says homeowners are disproportionately feeling the pain of the cost of living crisis.

Latest figures from Stats NZ show the average household's cost of living increased 7.2%in the year to June.

The official inflation rate for the period was six percent, but interest payments went up 28%.

New Zealand Initiative Executive Director Oliver Hartwich told Mike Hosking there's been a difference in the cost rises on average between renters and homeowners.

He says the interest rates increase means if someone is renting they will be facing lesser rises in costs.

Listen here:

Dr Oliver Hartwich is the Executive Director of The New Zealand Initiative think tank. This article was first published HERE.

1 comment:

robert Arthur said...

The annoying aspect is that those on benefits get full indexing based on the total movement and without having to guard their employemnt, increase output, confront management etc. They can remain totally passive. And if female passive to any advances with the prospect of an increased benefit and better chance for a worry free state house.