Home Uncategorized Cindy, We Told You So

Cindy, We Told You So

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Rising fuel and rent prices push inflation up

Who was it who said rents would not go up, and housing would become more affordable?

Consumer inflation increased on the back of higher petrol prices and rents in the past three months, but a gloomy economic outlook is likely to lead to cuts in interest rates possibly as soon as next month.

The Consumer Price Index (CPI) rose 0.6 percent in the three months to June, compared with 0.1 percent in the previous quarter.

The annual inflation rate rose to 1.7 percent from 1.5 percent in March quarter.

Fuel prices rose 5.8 percent as world oil prices increased. Household costs were the other driver of higher prices with rents rising around the country, offsetting cheaper second hand cars and lower domestic airfares.

“Petrol prices rose slowly over the first part of the quarter, reaching a peak in late May and then falling,” Stats NZ prices senior manager Paul Pascoe said.

The numbers were in line with market and Reserve Bank expectations, but still left the inflation rate below the central bank’s 2 percent target point.

The cost of running a house was the other main inflationary influence, particularly rents which rose 1 pct, led by Wellington. Appliances, furniture and textiles were also more expensive after the previous quarter’s price falls.

But there were some signs of domestic inflation pressures. The so-called “non-tradable items”, such as rents, insurance, building costs, and goods and services that do not face overseas competition, were 2.8 percent higher than a year ago. Tradable items, which include imported goods, were only fractionally higher.

Recent surveys have highlighted that businesses are struggling to pass on higher costs so they can maintain sales and market share, but at the cost of their profits.

The Reserve Bank (RBNZ) normally discounts such things as tax rises and volatile petrol and food prices.

24 COMMENTS

  1. What can I say?
    Other than to agree with the article
    Its their policies that pushed rents up and petrol tax.
    Two things that people cant do without.

    But hey just give everyone another wage rise and raise benefits and it will all be OK.
    Meanwhile hard working tax payers and businesses get screwed,

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    • From our research it looks like it will be getting worse…. much worse and it has nothing to do with “climate change”, it is to do with massively rising costs for building repairs, higher costs for vehicle repairs and an increase in compliance costs. Plus, the reduction in companies wanting a piece of the NZ market isn’t helping.

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      • Certainly pushed mine up, not just this tear but also the last 2 so accumulated to a big lift. Tenants have to pay. We would be in dire straits all round if the interest rates were at 7-8%.
        People don’t realize what a saving grace that is to landlords and therefore tenants.
        The other beneficiary of course if the taxman. Fewer interest costs = greater surplus. (except I spent mine making sure the cunts didn’t catch me with their arsehole(ring) fencing. Tenants have nicer looking houses. )

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  2. Has Cindy bin Lyings Airforce jet been fixed?
    What happens when she flys commercial, do the toadie msm have to pay for their own seats?
    Airpoints on toadies commercial flights, who gets them?
    Government flights for ministers, staff, who gets the airpoints?

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    • NZ7571 showing been nowhere since 11 July
      NZ7572 has been busy been back Aussie to yeepoon by looks.
      Did a quick flight Auck/well/ today.
      Very common for them to hide routes and what they are doing.
      I followed some of Labor secrecy transferring the 50,000 illegals.
      Gave these details to Michael Smith, this shows you the lengths they go to. VH NLK old Norfolk Air 737 did huge amount illegals to Manus and Nauru. Just had a reminder on it, told me every time it moved.
      I cannot see much difference here, they actually hide a lot and will tell everyone it’s security.
      https://www.michaelsmithnews.com/2013/08/vh-nlk-gets-around-with-and-without-flight-numbers-even-tail-number.html
      In this flight it had 3 different flight numbers, what they can’t stop is you tracking it live unless they turn off tail number, that would be risky since MH disappearance.
      When they start using these tactics, something is going on they don’t want you to see.

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    • But they have managed to deliver their first piece of retrospective legislation along with another blow for landlords. Ring fencing losses bill passed through in the usual rushed form last week with the introduction date 1st April 2019. Lol

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      • Bad precedent Cindy – as next El Presidente I have some retrospective legislation in mind now that you have legitimized retrospection – here are the Bills headings as a hint – Reimbursement for unnecessary Travel Costs/Misuse of taxpayers $ on unachieved election promises and personal liability/Incarceration without trial for provable lies. I have more these are just the less controversial ones!

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