In brief
Stats NZ said household living costs in New Zealand grew 3% in the year to the September quarter, up from 3.2% in the June quarter. A 19.1% jump in petrol prices, alongside rises in electricity and local authority rates, pushed the rise, while falling mortgage payments helped keep the cost of living below the overall CPI inflation of 3.7%. Superannuitant households suffered the highest inflation at 4%, whereas higher‑spending households experienced only 2.5%.
WELLINGTON, Oct. 30 – New Zealand’s average household living costs rose 3 percent in the year to the September quarter, easing from a 3.2‑percent increase in the year to the June quarter, Stats NZ said Friday.
The jump was largely driven by a 19.1‑percent rise in petrol prices, which the agency said accounted for almost a quarter of the increase in living costs.
Electricity prices were up 9.3 percent over the year, while local authority rates increased 6.2 percent, also adding to higher household spending.
Consumer price index (CPI) inflation stood at 3.7 percent for the year to September, down from 4.1 percent in the previous year, Stats NZ added, noting that falling interest payments helped keep household living‑cost inflation below the CPI rate.
Interest payments for the average household declined around 10 percent over the year.
Superannuitant households, receiving New Zealand’s government retirement pension, recorded the highest annual inflation rate at 4 percent, while higher‑spending households experienced the lowest rate at 2.5 percent.
International airfares rose 12.5 percent during the period, mainly due to higher fares to Europe and Asia.
Information from a New Zealand Radio National article, accessed in an incomplete form, corroborated the rise in household costs and identified petrol price spikes as the primary driver.
