Wellington, Feb 3 (IANS) The cost of living for the average New Zealand household increased 3 per cent in the 12 months to the December 2024 quarter, following a 3.8 per cent increase in the 12 months to the September 2024 quarter, according to the statistics department Stats NZ on Monday.
Measured by the household living-costs price indexes (HLPIs), which show how inflation affects different household groups, the most recent high was 8.2 per cent recorded in the 12 months to the December 2022 quarter, reports Xinhua news agency, quoting Stats NZ.
In contrast, inflation measured by the consumer price index (CPI), showing how inflation affects New Zealand as a whole, was 2.2 per cent in the 12 months to the December 2024 quarter, following a same level increase in the 12 months to the September 2024 quarter, it said, adding the most recent CPI high was 7.3 per cent, recorded in the 12 months to the June 2022 quarter.
In the three years since December 2021, interest payments indicated by the HLPIs have increased 104 per cent, while the CPI increased 14.7 per cent and the HLPI all-groups increased 19.3 per cent, Stats NZ said, adding HLPIs include interest payments, while the CPI includes the cost of building a new home and impacts monetary policy.
“For many households, interest payments on mortgages remain high and continue to contribute significantly to living costs,” said Stats NZ prices and deflators spokesperson Nicola Growden.
“Though it’s still high, we have seen inflation for mortgage interest payments continue to slow from its heights in 2022,” Growden said, adding interest payments increased 7.1 per cent in the 12 months to the December 2024 quarter, while the cost of building a new home increased 2 per cent in the same period.
Other contributors to increased living costs for most household groups were property rates and related services, insurance, and rent, she said.
–IANS
int/sd
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by BhaskarLive.in and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of BhaskarLive.in We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, BhaskarLive.in takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
