The cost of living in New Zealand has risen by 3% over the past year, driven primarily by higher petrol prices, according to new data from Stats NZ. This increase confirms what many Kiwis have already been feeling as household expenses climb.
The latest figures highlight the financial strain on households, retailers, and small business owners. The rising cost of petrol has been a significant factor, contributing to the overall squeeze on spending power.
Discussions on The Economy of Everything podcast have also touched on the challenges faced by struggling retailers and hospitality businesses, as well as the pressures on small business owners navigating these economic conditions.