POPULARITY
There are huge inequities facing at least 183,000 New Zealanders, and nothing’s being done about it. New data from Blind Low Vision NZ reveals how blind, deafblind, and low vision New Zealanders face not only higher costs but also the emotional strain of barriers most Kiwis never encounter. Stats NZ figures show that 58% of disabled New Zealanders earn $30,000 or less a year, compared with 33% of non-disabled people. So, what does government need to do to make sure this community doesn’t keep falling through the cracks? Today on The Front Page, Blind Low Vision NZ community and inclusion GM Dan Shepherd is with us to speak about his own lived experience, and how we might be able to help. Follow The Front Page on iHeartRadio, Apple Podcasts, Spotify or wherever you get your podcasts. You can read more about this and other stories in the New Zealand Herald, online at nzherald.co.nz, or tune in to news bulletins across the NZME network. Host: Chelsea DanielsEditor/Producer: Richard MartinProducer: Jane YeeSee omnystudio.com/listener for privacy information.
Are you feeling wealthier? Stats NZ's latest data on household net worth shows that for many of us, the answer should be yes. But how can that be, and who's actually getting the benefit of the increases? Money correspondent Susan Edmunds spoke to Lisa Owen.
The news came in around quarter to 11 yesterday, and it was unwelcome confirmation of what many people had been experiencing, had been feeling. The economy had contracted, and worse, it had shrunk 0.9%, far worse than economists had been predicting. Economists at the Reserve Bank had forecast the economy would shrink just 0.3% during the June quarter. Retail banks said, "Oh, I don't think so. I think it'll be closer to 0.5." In fact, the figures released by Stats NZ yesterday showed GDP fell almost a full percentage point in the three months ended June, with declines in most industries. Manufacturing fell the hardest. It dropped 3.5% in the quarter, led by transport equipment, machinery, and equipment manufacturing, which fell 6.2%. Food, beverage, and tobacco manufacturing fell 2.2%. And that was reflected in the decreased export volumes of products such as meat, which we referred to yesterday when we were talking to Infometrics Chief Economist Gareth Kiernan. He was saying it was the drop in exports – if you haven't got the produce, you can't export it. Construction was down 1.8%, reversing a 1.2% increase in the three months ended March. So what does it all mean? Well, it means fewer jobs, it means fewer people earning, it means less money being earned. It means people scared of spending money if they do have money. It means less money sloshing around in the system. It means people doing it tough. Roger Douglas, he of Rogernomics fame or infamy, and the Finance Minister in the Fourth Labour Government, called for the head of Nicola Willis. He and Robert MacCulloch, the economist, released a statement yesterday that said Willis was sending New Zealand bankrupt by failing to get to grips with our ballooning fiscal deficits and public debt. Her own Treasury, they said, contradicts her claim that New Zealand is on a path to surplus. They say it is not. Treasury's long-term fiscal forecast showed out of control deficits due to pensions and healthcare spending from an aging population. Willis, they say, is not up to the job and is not levelling with the New Zealand public. Willis ignored that criticism, and looking at the GDP figures, says Trump's tariffs had an outsized impact on local business confidence, far out of proportion to what actually happened. She said yesterday's data is backward-looking. It's looking at what the economy was doing months ago, and she says that the economy is in fact improving. “I think when you think about your average Kiwi, they're saying, well, actually, I need to have confidence that I can pay my mortgage, maybe that I can buy a bigger house in future, that I can buy a house at all. And the biggest tailwind for that is lower interest rates. And we know that they are what has spurred previous recoveries. That's actually good economics. Our government has done everything we can to create the space for the Reserve Bank to do this, and they just have to keep doing that job. “For our part, we've chosen a balanced course of consolidating the books over a few years, which has been endorsed by international economists, by ratings agencies who say that our fiscal plan is a good one. We've delivered significant savings while investing in more infrastructure, in health services, and education services. I completely stand by that approach. And Roger Douglas may want me to slash spending overnight. That would be the wrong thing to do in terms of the commitment we've made to voters, but actually it would be the wrong thing economically.” So that was Nicola Willis holding the line. John Key, former Prime Minister, came on the Mike Hosking Breakfast this morning and put the blame squarely on the Reserve Bank. “This is a saying that Ruth Richardson once had, which was monetary policy needs mates, and that was her argument when she was really tightening up the economy, that the Reserve Bank needed that support because they were in tandem working with the government. I think what you've seen over the last 18 months or so is a government that has been working hard to get the economy straightened up after, frankly, the mess it inherited. But it hasn't had a mate in the Reserve Bank, and the Reserve Bank's job very clearly over time has been to say interest rates need to come down. “And I mean, look, two months ago, I got hammered for saying interest rates need to come down 100 basis points. Well, they came down 25, they're going to come down another 50. You can put a ring around it in the next monetary policy statement and they'll come down another 25 by Christmas. So the person that's not doing the job or the people that are not doing their job are the Reserve Bank, who frankly, if they just walked around Auckland and Wellington for five minutes, could have felt the fact that the government needed help through monetary policy.” So, the experts have had their reckons and I'd love to hear yours. Now they say, how often have you been hearing that there are green shoots growth coming? They say that things are getting better, that job vacancies are up, that business confidence is up slightly, that come Christmas most people will be off the big mortgage interest rates and onto lower ones, which will mean more money in your pocket? They're not relying on bringing in migrants to push up the housing market, give you the sugar rush that you get from basically a false economy. They're relying on the economy to rebuild itself, making it more resilient and stronger. That being said, this was a government, or the National Party was a party, that campaigned on better times ahead. We're the ones that can fix things. We're the ones that can turn the ship around. We're the ones that can fix the mess that Labour left us in. Either the mess was bigger than they thought, or the levers they're pulling aren't as effective as they thought, or we are a timorous lot. We've been knocked around too much, bashed around too much to feel particularly confident. When a lot of business has been suffering since 2022, probably, it's hard to feel confident. It's hard to feel optimistic. It's hard to feel confident about spending money or investing in capital, that sort of thing. I do think that better times are a-coming. It's just the way economies work. You know, there are cycles. And surely we've reached the bottom and now we're going to go up and then we'll reach the top and round we'll come again, no matter who's in power. So, you know, you can talk a big game, but I think what National has shown is that they are victims of the economic cycle. There were no magic levers they could pull. Could Labour have done any better? The answer to that is no. Absolutely not. That is a very hard no from me. See omnystudio.com/listener for privacy information.
New Zealand's economy has been shrinking much faster than experts anticipated, according to new reports. Latest data from Stats NZ shows GDP dropped 0.9 percent in the June quarter after two quarters of growth. Infometrics Principal Economist Brad Olsen says the uncertainty around Trump's tariffs created a ripple effect that's showing through a number of industries. LISTEN ABOVE See omnystudio.com/listener for privacy information.
New Zealand's economy is back in contraction. Latest data just out from Stats NZ shows GDP fell 0.9% in the three months to June. That follows six months of growth, after six months of contraction. Nick Mills gauged reaction to the announcement with Labour's Ayesha Verrall and National's Mike Butterick in Politics Thursday. They also discussed the current teacher and nurse strikes, the rise in New Zealanders being sent to prison and Labour's relationship with Te Pāti Māori. LISTEN ABOVESee omnystudio.com/listener for privacy information.
Our economy's been shrinking much faster than economists thought. Latest data just out from Stats NZ shows GDP fell 0.9% in the three months to June. That follows six months of growth, after six months of contraction. Infometrics Chief Forecaster Gareth Kiernan told Kerre Woodham it's far worse than any economists were expecting. He says this number is completely "off the charts", as far as they're concerned. LISTEN ABOVE See omnystudio.com/listener for privacy information.
New Zealand's economy has been shrinking much faster than experts anticipated, according to new reports. Latest data from Stats NZ shows GDP dropped 0.9 percent in the June quarter after two quarters of growth. Infometrics Principal Economist Brad Olsen says the uncertainty around Trump's tariffs created a ripple effect that's showing through a number of industries. LISTEN ABOVE See omnystudio.com/listener for privacy information.
Many are predicting a fall in GDP for quarter two. Stats NZ will release the figures later this morning, just before 11am. The Reserve Bank expects a 0.3% drop while bank economists are more pessimistic. Westpac Senior Economist Michael Gordon told Mike Hosking there are worrying trends. He says the construction sector is still in a downturn, while manufacturing has seen a fall after a decent first quarter. LISTEN ABOVE See omnystudio.com/listener for privacy information.
An economist is predicting a gloomier number than the Reserve Bank from the latest GDP figure. Stats NZ data on GDP for the year's second quarter will be released today. The Reserve Bank's predicting a 0.3 percent drop. BNZ Chief Economist Mike Jones is a picking a 0.5 percent fall. He told Ryan Bridge economic growth is probably going to be slow for a while. Jones says it will probably be until next year that we see what can be classed as recovery. LISTEN ABOVE See omnystudio.com/listener for privacy information.
Food price inflation is starting to stabilise. Latest figures from Stats NZ show the food price inflation is 5% – unchanged on a month ago. Butter prices have risen 32% in a year, cheese is up 26%, while milk has increased by 16%. Infometrics Principal Economist Brad Olsen told Ryan Bridge that while households are still seeing high costs, the pressure is coming through in a more contained fashion. He says that when inflation was running rampant a few years ago, just about everything was impacted, but now it's not. LISTEN ABOVE See omnystudio.com/listener for privacy information.
New data suggests New Zealand's economic turmoil is far from over. New economic data from Stats NZ prompted BNZ to increase its estimate of the size of the contraction in the economy in the three months to the end of June. Harbour Asset Management expert Shane Solly explained further. LISTEN ABOVESee omnystudio.com/listener for privacy information.
New data suggests New Zealand's economic turmoil is far from over. New economic data from Stats NZ prompted BNZ to increase its estimate of the size of the contraction in the economy in the three months to the end of June. Harbour Asset Management expert Shane Solly explained further. LISTEN ABOVESee omnystudio.com/listener for privacy information.
10,000 jobs have disappeared in just three months, according to Stats NZ. There are now 50,000 fewer jobs than in December 2023. Auckland lost nearly 5000 jobs, Wellington over 1300, Hawke's Bay over 800, and in Waikato close to 700. Provincial areas have also been hit despite the farming sector being a bright spot in the economy. Economist and Infometrics chief executive Brad Olsen spoke to Lisa Owen.
Stats NZ's business employment data for the June quarter, released on Tuesday shows a 10,000 fall in three months. Money correspondent Susan Edmunds spoke to Ingrid Hipkiss.
Stats NZ came out with the latest trade data for New Zealand - and the results show good news for exporters. Exports were up 9.9 percent in the year to June and imports were up 3.2 percent. HSBC chief economist Paul Bloxham explained further. LISTEN ABOVESee omnystudio.com/listener for privacy information.
Stats NZ came out with the latest trade data for New Zealand - and the results show good news for exporters. Exports were up 9.9 percent in the year to June and imports were up 3.2 percent. HSBC chief economist Paul Bloxham explained further. LISTEN ABOVESee omnystudio.com/listener for privacy information.
New figures from Stats NZ show the gender pay gap has dropped to 5.3 percent in the June Quarter 2025, its lowest level since 1998. Advocacy group Mind the Gap co-founder Dellwyn Stuart spoke to Ingrid Hipkiss.
A build-up of industry income changes could have driven the pay gap between men and women to a historic low. The pay gap for the June quarter is sitting at 5.2 percent, down from the 8.2 percent seen a year ago. It's the smallest margin seen since Stats NZ began collecting the data in 1998. Infometrics Principal Economist Brad Olsen says sectors like transport, IT and finance have been pushing through higher incomes for female workers. "We've also seen continued larger pay increases for a number of quite large female-dominated industries alike - of education and health." LISTEN ABOVESee omnystudio.com/listener for privacy information.
A build-up of industry income changes could have driven the pay gap between men and women to a historic low. The pay gap for the June quarter is sitting at 5.2 percent, down from the 8.2 percent seen a year ago. It's the smallest margin seen since Stats NZ began collecting the data in 1998. Infometrics Principal Economist Brad Olsen says sectors like transport, IT and finance have been pushing through higher incomes for female workers. "We've also seen continued larger pay increases for a number of quite large female-dominated industries alike - of education and health." LISTEN ABOVESee omnystudio.com/listener for privacy information.
Belief an improving gender pay gap is due to a weaker labour market. Stats NZ's revealed the difference in pay between women and men fell to 5.2% in the June quarter - its lowest point to date A year ago, it was 8.2%. Mind the Gap co-founder Dellwyn Stuart told Ryan Bridge the number will likely go back up as the economy improves and more part-time jobs become available again for women. She says they're still carrying majority of the parenting load and tend to opt for part-time roles more, which are often the ones cut first. LISTEN ABOVESee omnystudio.com/listener for privacy information.
The humble mince pie, might not be that humble anymore with the price of a key ingredient sky rocketing in the past 12 months. Beef mince has gone up more than 19% in a year, according to Stats NZ figures. Other potential pie ingredients have also jumped in price. On average a 500 gram block of butter has gone up more than 42%, while 1kg of cheese has gone up almost 30% in price. John Willams from Auckland's world famous Muzza's Pies says for now they are trying to make savings else where, and spoke to Lisa Owen.
In today's episode, the government's shaking up building consenting, with the goal of delivering cheaper and easier builds; Ukraine's President Volodymyr Zelensky is meeting with US President Donald Trump in Washington, to discuss an end to the war in Ukraine; Stats NZ says groceries, especially dairy and meat, drove a 5 percent annual increase, with mince up nearly 20 percent; Awards have been dished out to the country's top restaurants and chefs, at the Cuisine Food Awards. Samoan restaurant "Tala" in Parnell Auckland has achieved a three-hat rating.
Stats NZ says groceries, especially dairy and meat, drove a 5 percent annual increase, with mince up nearly 20 percent. Cibus Catering managing director Peter Kennet spoke to Corin Dann.
In today's episode, there's been a chorus of voices calling for the government to take action to help pull Auckland out of its economic slump; New Zealand Police are facing stiff competition across the Tasman, with states there luring Kiwi cops with more money and housing allowances; Auckland emergency department nurses say this winter is the busiest they've seen; The price of food has increased five percent over the past 12 months, the latest figures released by Stats NZ show, leaving families struggling to put basics on the table; We cross the Tasman to get the latest from Kerry-Anne Walsh.
The price of food has increased five percent over the past 12 months, the latest figures released by Stats NZ show, leaving families struggling to put basics on the table. Westpac economist Satish Ranchhod spoke to Corin Dann.
The latest Stats NZ figures says food prices in our 15 main cities have increased five-percent in the past year -- with grocery prices rising much faster than restaurant and takeaway prices. But Foodstuffs says prices in its stores have only increased 3.4 percent. Foodstuffs North Island Managing Director Chris Quin told Mike Hosking that much of that rise is being driven by beef, lamb and butter. Quinn says consumers can get good value with frozen chickens, leg roasts and many winter vegetables. LISTEN ABOVESee omnystudio.com/listener for privacy information.
Stats NZ says food inflation was back up five-percent for the year to July. The heftiest increases include butter rising 42-percent, cheese 29, and produce climbing more than seven. Infometrics Principal Economist Brad Olsen says other essentials like milk, steak, and mince are also going up. Olsen says food price inflation probably won't impact next week's Reserve Bank announcement, but it is uncomfortable for households. LISTEN ABOVESee omnystudio.com/listener for privacy information.
There's growing calls among Auckland business leaders to get the city's economy going again. According to the latest Stats NZ data, Auckland's 6.1 percent unemployment rate for the June 2025 quarter was the highest of any region and above the national rate of 5.2 percent. Heart of the City chief executive Viv Beck says the Government needs to find a solution to get the city moving again. "We're talking to people on the street, businesses who have struggled through 10 years...they need people, they need customers, they need people here and events are a proven way of doing that." LISTEN ABOVESee omnystudio.com/listener for privacy information.
Last year's recession is still being felt in the job market. Stats NZ data —due out this morning— is expected to show unemployment reached a nine-year high of 5.3% in the June quarter. The economy's been back in growth since the latter part of last year. But ASB Senior Economist Mark Smith told Mike Hosking the economy has lost about 40,000 jobs since the late 2023 peak. More full-time roles have been lost than part time, he explained, and the labour market is getting that much weaker. LISTEN ABOVE See omnystudio.com/listener for privacy information.
Send Us A Message! Let us know what you think.Welcome to another bonus episode of the Property Apprentice Podcast, hosted by Debbie Roberts, financial adviser and co-founder of Property Apprentice. In this episode, Debbie unpacks how New Zealand's aging population is reshaping the future of property investment, interest rates, housing supply, and banking services. What happens to house prices as more Kiwis reach retirement age? Will there be an oversupply of large homes in aging regions? How could long-term interest rates shift due to demographic trends? What are the implications for retirement planning, reverse mortgages, and rental demand? We'll also dive into insights from the Reserve Bank of New Zealand (RBNZ), Stats NZ, and the New Zealand Treasury, highlighting potential risks and opportunities for investors—especially with the median age projected to rise to over 45 by 2050. Whether you're a property investor, a future retiree, or a Gen Z planning ahead, this episode offers crucial takeaways: Why smaller, single-level, low-maintenance homes are becoming more attractiveHow shrinking working-age populations affect NZ Superannuation sustainabilityWhat changes banks may make in response to higher deposits and fewer mortgagesTips for adapting your investment strategy in a changing economic environmentRegister for our FREE event: "How to Succeed With Property Investing"
Recent statistics on inflation published earlier this week showed that consumer prices had risen by 2.7% in the last 12 months to June. Stats NZ identified the main contributor to inflation as local authority rates and payments, which were up 12.2%. Earlier this week, the Green party recently called on the government to lower the minimum voting age to 16, which was in response to a move by the UK government last week, where they announced their plans to lower the voting age to 16 in time for their next general election. And the most recent figures from the Ministry of Social Development were published which showed that benefit sanctions have increased by 27% compared to last year, with the number of people receiving the benefit also increasing by 6.6%. For our weekly catchup with the Green party, Oto spoke with MP Ricardo Menendez-March to get the party's take on all of these issues.
Rates, rent and power are a trio of factors responsible for driving up inflation, which has now jumped to a 12-month high. Stats NZ data showed food costs were also surging, alongside rates shooting up by 12.2% and electricity rising by more than 8%. However inflation is still within the Reserve Bank's target band and Finance Minister Nicola Willis has said it is under control. But the opposition said it shows the cost of living is still a problem. Kiwi bank Economist Jarrod Kerr spoke to Melissa Chan-Green.
Experts have offered reassurance our high inflation isn't a sign of things to come. Stats NZ figures show the Consumers Price Index reached 2.7 percent for the year to June. Inflation fell to just 2.2 percent last year - from 7.3 percent three years ago - but has been rising since. Kiwibank senior economist Mary Jo Vergara says this is likely a spike, so should go back down. "If you look at domestic inflation, that's really trending down - so I don't think this is going to be something that is persistent." LISTEN ABOVESee omnystudio.com/listener for privacy information.
Stats NZ recently reported annual inflation increased to 2.7 percent in the three months to the end of June, and it's sparked concerns among experts. Economists had all been expecting annual inflation would be recorded at 2.8 percent or 2.9 percent - close to the Reserve Bank's 3 percent target band. Harbour Asset Management spokesperson Shane Solly revealed what this could mean for the economy going forward. LISTEN ABOVESee omnystudio.com/listener for privacy information.
Rising inflation is hitting low-income households hard, but is expected to spark hikes to the OCR. New data -- due out from Stats NZ this morning -- is expected to show inflation has risen to between 2.6 and 2.9 percent in the year to June. ANZ Chief Economist Sharon Zollner says households are facing rising energy and food prices. She says inflation could surpass three percent in the year to September, but the Reserve Bank isn't likely to change course. LISTEN HERE See omnystudio.com/listener for privacy information.
Households are still finding it tough to pay for the basics, with high prices not easing yet. Stats NZ has revealed the cost of food rose 4.6 percent in the 12 months to June. It's largely driven by double-digit increases for products like red meat, cheese and milk Infometrics principal economist Brad Olsen says the general economy is still experiencing intense price pressure and weakness - which isn't comforting. "Mince prices are now hitting nearly $22 a kilo. You can't even have a cheap mince meal at a cheap price." LISTEN ABOVESee omnystudio.com/listener for privacy information.
There's immense pressure for young New Zealanders trying to find work as opportunities decline. Stats NZ data shows 16 percent of Kiwis aged 15-24 are unemployed. NZ Careers Expo director Mark Gillard says the market conditions show it's a tough market for young workers. "It's not anybody's fault, the onus is certainly there on employers, on industry organisations to engage with young people. There's been a propensity to step back and let the internet do all the talking, but we know face-to-face engagement with young people is what really inspires them." LISTEN ABOVESee omnystudio.com/listener for privacy information.
Tim and Lianne discuss the latest in politics, including the recent Stats NZ milestone where the number of people who moved away from New Zealand was greater than the number who migrated here, in the months of April and May. Go to this episode on rnz.co.nz for more details
Winston's done it again. The old political workhorse of the Pacific just keeps getting more popular. New Zealand First has overtaken ACT in the latest Taxpayer's Union Curia Poll - it's now the third most popular party. I'll give you a break down of the numbers shortly, but this has got to be ego bruising for Seymour. He's just got his feet under the Deputy's desk and he's been overtaken in the polls by the bloke he's replaced. Not that simply being the Deputy PM gets you votes, but he's trying to make a good fist of it. Seymour's holding press conferences left, right and centre. Yesterday, a stand-up reacting to no change in the OCR. Today, a stand-up on Stats NZ numbers. Luxon's overseas on holiday. Winston's East Asia Summit Foreign Ministers' Meeting in Kuala Lumpur. Seymour's been bogged down with Regulatory Standard's Bill, the Treaty bill and school lunches. Winston's been flying around the world keeping us in line with China and staving off Trump's tariffs... all while celebrating his 80th birthday. And to top it off, he's keeping cash in circulation. Winston is popular because he speaks his mind and knows what he's talking about. He commands respect. When he speaks, people listen. He's a good example of a man who keeps it simple. Do your job and do it well. Work hard and stay focussed. It's a pretty simple formula that's seen him through the last 40+ years in politics and ion these numbers will see him through atleast a couple more yet. LISTEN ABOVESee omnystudio.com/listener for privacy information.
20% of New Zealanders are struggling to pay their power bills with 11% cutting back on heating their homes, according to Consumer New Zealand's latest energy survey. Stats NZ figures show the price of electricty has gone up almost 9% in 12 months. Some people have told Checkpoint they are in bed by five to save on heating costs, others are taking extreme measures like turning off their hot water cylinder or bathing in cold water. Consumer's Manager of Powerswitch, Paul Fuge spoke to Lisa Owen about how to keep your power bill down this winter.
Do you know why your health insurance premiums are paying for someone elses operation? The cost of insurances have shot up recently; Stats NZ figures show as at March last year house insurance was up almost 25%, contents insurance up about 28% and car insurance up almost 23% compared to the previous year. Some companies offering health insurance as part of employment packages are looking to ditch or downgrade their cover as costs go up. Southern Cross had about 955,000 members last financial year or about 60% of Aotearoa's health insurance market by customer numbers. Chief Sales and Marketing Officer Regan Savage spoke to Lisa Owen.
The Prime Minister has promised to take action in the coming months to tackle the cost of living crisis. Christopher Luxon has acknowledged it is still tough out there for too many kiwis and the government's focus is on unlocking economic growth. According to Stats NZ the price of food has gone up 4.4% in the last year. Electricity is up almost 9% and gas is up more than 15%. As of March last year house insurance was up almost 25 % and contents insurance up about 28%. This week figures from Centrix showed almost half a million people are behind on debt repayments. Finance Minister Nicola Willis spoke to Lisa Owen.
A price tag of more than $80 for just over 3kg of prime New Zealand lamb is a little too rich, even for a former chef who devoted decades to fine dining. According to Stats NZ in the past year food prices have gone up 4.4% percent. That's the biggest jump since December 2023. Tony Astle ran the legendary Auckland fine dining restaurant Antoines in Parnell for almost 50 years. He spoke to Lisa Owen about how to keep cooking costs down.
Some pensioners are resorting to extreme power rationing to keep up with rising costs. Turning off hot water cylinders for days at a time and heading to bed as soon as it's dark to save on electricity. Stats NZ figures show electricity costs have gone up almost 9% in the twelve months from June last year. Gas has gone up almost 15.5% over the same period. The government's winter energy payment for those on super and a number of other benefits is up to $700 over five months. But Age Concern Canterbury says it's not enough with an increasing number of people relying on super alone; there's only so many expenses they can trim. Chief Executive of Age Concern Canterbury, Greta Bond spoke to Lisa Owen.
A rising number of people are considering ditching insurance, taking a gamble to cope with rising prices. New figures from Centrix show almost half a million people are behind on debt repayments, with nearly 22,000 in mortgage arrears. Company liquidations have risen 27% year-on-year. Stats NZ figures show as at March last year house insurance was up almost 25 %, contents insurance up about 28% and car insurance up almost 23% compared to the previous year. Checkpoint spoke to a number of people weighing up the cost of insurance.
Consents keep dropping but the energy in the building sector may be beginning to turn. Stats NZ figures show new home consents fell 3.8% in the year to May and plunged 8.6% for multi-unit dwellings. Stats NZ says it's levelling off, but NZIER's latest Quarterly Survey of Business Opinion shows only 3% of building firms expect conditions to improve, down from 6% three months ago. But Combined Building Supplies Co-Op CEO Carl Taylor told Mike Hosking that building consent data is only a small part of the industry, and as a whole, it's starting to feel better across the board. He says that some stats are normally three or four months behind, and instead they track what their members are spending across their merchants, which has seen a 10% increase on the previous month. LISTEN ABOVE See omnystudio.com/listener for privacy information.
Whether it's a block of butter or cheese, a kilo of mince, a dozen eggs or a cooked chook, food prices have gone up rapidly. The latest Stats NZ figures show in the past 12 months food prices have gone up 4.4% - the highest increase since December 2023. Over the last three years Checkpoint has been tracking a weekly shop from the same suburb at a Countdown and Pak'n SAVE supermarket to see just how much things have gone up at the checkout. Louise Ternouth reports.
Unemployment is currently at 5.1%, with 156,000 people out of work. As the cost of living crisis continues to ravage discretionary spending, according to Stats NZ food prices have also gone up 4.4% in the past year. Inflation has continued to rise and lower income households have been hit hard. Kiwibank Chief economist Jarrod Kerr spoke to Lisa Owen.
The economy is expected to look better than earlier predictions. Figures —due out from Stats NZ this morning— are expected to show the country's GDP grew 0.7% for the first quarter of the year. It's slightly higher than 0.4%, predicted earlier this year. ASB chief economist Nick Tuffley told Mike Hosking things are expected to slow through the middle half of the year. LISTEN ABOVE See omnystudio.com/listener for privacy information.
There are concerns scrapping the traditional census won't deliver the desired results. Stats NZ is moving to a system using Government collected admin-data, saying the current five yearly Census is financially unsustainable. Census-style questions will still be asked in much smaller annual surveys looking at a small fraction of the population. Former national statistician Len Cook told Mike Hosking data-wise, this won't cut it. He says admin-data comes from about a dozen different sources, none of them complete. LISTEN ABOVE See omnystudio.com/listener for privacy information.