OPINION
ASB economists are warning the cost-of-living crisis means households will need to find an extra $110 per week to keep up in the next 12 months. The daunting figure is an average which includes the impact of inflation and higher interest rates. That means people with higher debt levels are likely to bear the brunt of the pain, ASB says. (Business, Thursday).
Read the full story here: Cost of living crisis: How much more per week you'll need to spend - ASB report
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No one's told that to all the people driving around all day. Spending up in expensive cafes.
- Anaru B
The free-money era is over. Now you pay the piper with inflation.
- Michael R
An extra $110 a week is a very conservative calculation. In reality, families will need to find more than that, in particular families who have their mortgage rates renewed. Further NZD is depreciated, while it is good for exporters but import products will hit the roof. So watch the space how far family will need to tighten their belt in 2023.
- Cindy S
Increasing Inflation > increasing prices > increasing OCR > increasing mortgage rates > reduced consumer demand > increased pressure on margins > increased redundancies = recession.
- Luke H
Unions are pushing up wages and salaries as well. Businesses will then shoulder that cost by passing the cost on to consumers. Vote Labour, you are voting for the unions.
- Neil L
Cost-of-living crisis, housing crisis, law & order crisis, education crisis. All acknowledged, all very real. If I was to add one of my own it would be divided nation crisis. You may have yours.
- Warren B
Be warned, the pain is just starting. This Government still has over a year to go until we have any chance of democratically banishing them out of office for decades. There is despair out there. Real despair. It will take decades to recover too. As the damage is not just evident in skyrocketing inflation, we are also suffocating in debt, ideologically misguided mismanagement, with communities broken and ruled by lawlessness and violence. Hopefully, enough hardworking honest good Kiwis remain in New Zealand to help rebuild it.
- Mark C
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