The Premium Debate: Subscribers have their say on 'Inflation is a plague'

Inflation is making everyone a little poorer. Photo / Getty Images

OPINION

NZME Business Editor at Large Liam Dann says he thought he knew all the 'flations ... inflation, reflation, deflation, disinflation, stagflation.
But a new one - greedflation - popped up in headlines.
It's been coined in the US to describe corporate price gouging; companies using the cover of inflation to boost their margins and profits.
That kind of opportunist pricing behaviour is despicable and should be frowned on as antisocial profiteering.
It is, however, a sign that inflation is entering the popular culture and lexicon in a way it hasn't for decades.
Big business has a role to play here. This isn't the time to be making record profits.
Inflation is making everyone a little poorer. So buckle up, tighten your belt, do your bit.
We will beat this. And we'll beat it faster if we act responsibly.

Read the full story: Liam Dann: Inflation is a plague, let's fight it like one - together

Have your say by going to bayofplentytimes.co.nz or dailypost.co.nz and becoming a Premium subscriber.

I've seen a number of businesses use "greedflation" lately, and take advantage of lack of competition in NZ.

- Kathy M

At the end of the day:

1) We are spending too much - we need to save and stop absorbing so much useless debt.

2) We are not producing enough - NZ needs to get back to work, and FINALLY focus on real value-added products and services, our productivity has flatlined for a generation.

Both of these components need to change.

- Welly G

Flooding the market with cheap money since the GFC - was not a good idea.

- Michael R

I agree. We are in a hyperinflationary environment. Price gouging and financial greed is a big factor in the cost of living going up. Can only blame so much on Covid, supply chain issues and increased wages.

- Hayden P

One major contributor was the increases in the minimum wage, which resulted in others on higher wages wanting more to keep parity. Staff are a significant cost for most businesses, and when costs go up then they have to raise prices.

The end result ... those who had wage increases are no better off, and those who didn't have gone backwards.

- Anthony W

The Government is much responsible for this inflation crisis than they care to admit.

- Brian W

I would suggest we have made a very sharp trim to the socialism path during the past 3-5 years.
As per normal, we're heading for economic failure without any positive outcomes……

Call that for what it is.

- Kim C

- Republished comments may be edited at the editor's discretion.

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