According to StatsNZ, the cost of living for average households has increased by 7.2 percent over the 12 months leading up to July 2023.
The figure for the highest earning households went as high as 7.8 percent while the lowest spending households still experienced a rise of 6.9 percent, making the rise substantial across the board for locals living and earning in New Zealand.
The biggest contributing factors to this figure include interest payments which increased by 28.8 %, grocery food which increased by 13.2 %, private transport supplies and services which went up by 9.9 %, rent increased which went up 4.8 %, and fruit and vegetables prices that went up 21.2 % in the corresponding period.
The Household living-costs price indexes below provides some insights into inflation figures since June 2015, to June 2023.
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