What should be done to control rising prices?

Photo / Natalie Slade

General prices in New Zealand rose 0.8 per cent in the March quarter, due mainly to higher prices for petrol, cigarettes and food than in the December quarter, Statistics New Zealand said.

The Consumers Price Index (CPI) for the March 2011 quarter also showed general prices were up 4.5 per cent from the same quarter a year ago, Stats NZ said.

The rise in the CPI was below median economist expectations of a 1 per cent increase for the quarter and a 4.7 per cent annual increase.

They follow a 2.3 per cent increase in the December quarter due to the rise in GST on October 1 last year from 12.5 per cent to 15 per cent, and an annual increase in December of 4 per cent.

What should be done to control rising prices? Here is the latest selection of Your Views: