In brief
New Zealand’s average household living cost rose 3% in the year to September, mainly driven by a 19.1% rise in petrol prices. Electricity and local authority rates also climbed, while interest payments fell, keeping the overall inflation below the consumer price index. Retiree households saw the highest inflation, whereas high‑spending families were least affected.
WELLINGTON, Oct. 30 (Xinhua) — 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, according to Stats NZ data released on Friday.
The jump was largely sparked by a 19.1‑percent surge in petrol prices, which alone accounted for almost one quarter of the increase in average annual household living costs, the national statistics agency said.
Electricity prices also rose sharply, climbing 9.3 percent over the year, while local authority rates climbed 6.2 percent, further adding to household expenditure.
In comparison, consumer price inflation measured by the consumer price index (CPI) was 3.7 percent in the year to the September quarter, down from 4.1 percent in the previous quarter, Stats NZ noted.
Despite the higher fuel and utility costs, interest payments for the average household fell about 10 percent over the year, helping keep household‑living‑cost inflation below the CPI rate, Stats NZ added.
Superannuitant households – those receiving New Zealand’s government retirement pension – recorded the highest annual inflation rate at 4 percent, according to the agency’s breakdown, while households with higher spending levels experienced the lowest rate at 2.5 percent among all groups.
Airfares for international travel rose 12.5 percent during the period, mainly due to higher fares to Europe and Asia, Stats NZ said.
Radio New Zealand reported similar findings, noting that Stats NZ data showed costs for the average household rose 3 percent in the year ended September, from a 3.2 percent rate in the June year, and that lower mortgage rates helped offset fuel price hikes for many families.
These figures highlight how inflation pressures are unevenly distributed, with retirees feeling the sharpest bite from rising petrol and utility bills, while the wealthier tier of households appears to absorb these shocks more readily.
Local authorities now face scrutiny over the 6.2 percent rise in rates, which directly raises the cost of public services and infrastructure for every resident.
The public will likely watch how future budget debates address the rising cost of energy and the balance between personal spending and government levies.
