Inflation pressures are probably prompting a growing number of people to take on a second job or start a side hustle, commentators say. Inland Revenue has released data under the Official Information Act showing the number of New Zealanders working more than one job has increased by more than 40,000 in six years. In the Read more
Posts Tagged ‘Inflation’
Fighting inflation doesn’t directly cause unemployment
Thursday, November 10th, 2022
You may have seen the news: in its attempts to tackle inflation, the Reserve Bank is going to increase unemployment. The idea can even seem to come right from the mouths of experts, including the bank’s governor, Adrian Orr. Speaking recently to an industry conference, he said: “Returning to low inflation will, in the near Read more
Soaring food inflation looks likely to continue next year
Thursday, November 10th, 2022
New Zealand’s food inflation is already soaring. The current situation is not good, and the outlook’s probably even worse. Stats NZ says food price inflation in New Zealand jumped 8.3 percent year-on-year in August 2022. All food categories gained annually: fruit and vegetables (16 percent), grocery food (7.7 percent), meat, poultry & fish (6.7 percent), Read more
Inflation has already eroded minimum wage increase
Monday, April 4th, 2022
The new minimum wage increase to NZ$21.20 an hour should help a significant number of New Zealand’s lowest-paid workers and their families – 300,000 people, according to the government. Just how much it will help, however, is less certain. At 6%, the increase is in line with the 5.9% annual rise in the consumer price Read more
Support workers struggling as fuel prices outstrip government mileage rates
Monday, March 21st, 2022Tarsh Dixon’s clients are some of New Zealand’s most vulnerable people, and right now she says she’s paying to care for them. The Auckland-based community support worker looks after people in their own homes using her own car to get there, but her rising fuel costs aren’t matched by the mileage rates set by the Read more
Rising prices for petrol, clothing, housing will dent Kiwis’ wallet
Thursday, October 14th, 2021New Zealanders can expect things to start getting a bit pricier with rising prices on many items predicted. The consumer price index, a measure of inflation, jumped to 3.3 per cent in the year to June, the biggest increase in nearly 10 years. It had run at an annual rate of 1.5 per cent for Read more
New Zealand’s post-Covid inequalities concerning
Thursday, November 5th, 2020
Concerns about New Zealand’s post-Covid inequalities are piling up. There is disquiet that the monetary response to Covid-19 is fuelling inequality by driving up share-markets and house prices. Recent Stat’s NZ data shows high-spending households are benefiting from zero inflation on the mix of products and services they buy. In contrast, price rises are still Read more
Venezuelans being starved out of Venezuela
Thursday, August 23rd, 2018Venezuelans are arriving in Colombia as refugees with a few suitcases, malnourished children and reports of bare shelves in shops, supermarkets and pharmacies. The International Monetary Fund is predicting the inflation rate in Venezuela will top one million percent this year. If that happens, the monthly minimum wage will not buy enough flour for a Read more
Venezuela economy crisis means shortage of Communion hosts
Tuesday, August 18th, 2015
One of the effects of Venezuela’s economic crisis is a shortage of unleavened wheat flour to make Communion hosts. The monthly production of hosts in the South American nation has fallen from 80,000 to 30,000 recently, the Catholic News Agency reported. Giovanni Luisio Mass, prior of the Order of Poor Knights of Christ of the Read more