The number one issue for the election is going to be the cost of living crisis, fuelled by this spendthrift Labour Government and their wasteful spending and policy settings. Law and order will be very close to cost of living, but it will be cost of living that will be the main focus.
The cost of living for the average household increased by 7.7% in the 12 months to March, according to figures released by Stats NZ.
Each quarter, the household living-costs price indexes (HLPIs) measure how inflation affects 13 different household groups, plus an all-households group.
It is different to the consumers price index (CPI), which measures how inflation affects New Zealand as a whole.
Higher prices for interest payments, grocery food, rent, and fruit and vegetables were the main contributors to the HLPI increase for the quarter ending March.
Between March 2022 and March 2023 prices for interest payments increased 38%, rent increased 5.4%, grocery food increased 12% and fruit and vegetables increased 21%.
Stuff
Look at the interest costs – the result of the Reserve Bank, under instruction from the Minister of Finance, trying to hold down the rampant inflation caused by this Government’s profligate spending.
That is not the effect of the cyclone or the war in Ukraine. This is the direct effect of vast, poor quality government spending and consequent policy settings to control inflation.
“Food prices increased by 12% for the average household, which was the main contributor for most household groups,” consumer prices manager James Mitchell said.
The 7.7% yearly increase followed an 8.2% increase in the 12 months to December 2022.
The cost of living for beneficiary households increased 6.7% in the 12 months to March 2023.
“This was due to higher prices for rent, interest payments, grocery food, such as eggs and cheese, and fruit and vegetables,” Mitchell said.
Stuff
I don’t know why anyone is surprised by the huge increase in rents. This was foreshadowed by almost everyone including Blind Freddy as the likely result of the government’s continued war on landlords. They removed tax incentives, added huge capital costs in the form of the Healthy Homes policy settings, and told everyone that landlords would just suck it up. When you add in the increased interest it is no surprise that landlords are seeking to recover the increased costs in higher rents.
Add to that the abject failure of Kiwibuild, continuing the constrained supply of housing, then it was always going to happen.
The only surprise is that the dolts in charge couldn’t see it coming like everyone else.
Rent makes up about a third of beneficiary household expenditure. This compares with 13% for the average household, and 5% for highest-spending households.
The cost of living for Maori households increased 7.5% and superannuitant households 7.1%, while highest-spending households’ cost of living increased 8.7% and the lowest-spending households 6.9%.
Stuff
The very people this government proclaimed to be assisting with their policies are actually being hurt and that hurt is going to cost the government dearly come the election.
When you add in the pain of crime on top of the pain of the cost of living crisis then you should be staring at polls showing Labour sinking badly, but they aren’t. You might like to blame the media for that, but that would be silly. You might like to think that it just needs time for the opposition to fire, but again that would be silly.
The canary in the coal mine for National is long dead. With all this happening National should be at least five points ahead. The fact they are not should send shivers down the spine of every blinkered National supporter claiming Christopher Luxon is to be our saviour.
He isn’t, and he hasn’t mustered even a minor miracle in the process. Sadly I don’t think he will be walking on water, even at a dead flat low tide any time soon.
No matter, Chris Hipkins and Christopher Luxon will be able to plan their grand coalition on their cozy trip to the King’s coronation.
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