Cost of living soars - new inflation data shows huge leap in prices

Asia's Tech News Daily

Cost of living soars - new inflation data shows huge leap in prices

The consumers price index has surged 2.2 per cent in the September 2021 quarter, much more than economists had expected.

It was the biggest quarterly movement since a 2.3 percent rise in the December 2010 quarter, Stats NZ said today.

Excluding quarters impacted by increases to GST rates, the September quarter movement was the highest since the June 1987 quarter, which saw a 3.3 per cent rise.

Annual inflation was 4.9 per cent in the September 2021 quarter when compared with the September 2020 quarter.

This was the biggest annual movement since inflation reached 5.3 percent between the June 2010 and June 2011 quarters.

That’s up from a 1.3 per cent increase in the June quarter (3.3 per cent year on year).

Economists had been expecting Consumer Price Index it to land between 1.5 and 1.8 per cent for the September quarter for an annual figure of around 4.4 per cent.

Last week data showed Food prices rose 0.5 percent in September 2021 compared with August 2021.

It was the sixth consecutive monthly increase.

While the Reserve Bank is expected to continue hiking interest rates, economists believe it will remain cautious while New Zealand adjusts to living with Covid-19.

Most expect at least three further hikes in the coming months.

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

Covid 19 Delta outbreak: All South Island, several regions were considered for 'green' light setting

Concerns about pockets of low vaccination rates and active Covid-19 cases stopped the South Island, Wellington, and two regions from entering the traffic light system at green. The Herald yesterday ... Read more »

(LEAD) S. Korea's total population to fall for first time this year: agency

(ATTN: UPDATES with more details throughout; RECASTS headline, lead; CHANGES photo)By Kim Soo-yeon SEOUL, Dec. 9 (Yonhap) — South Korea’s total population is expected to record its first decline this ... Read more »

Auckland Transport pursuing powers to remove parking spaces without consulting local residents

Auckland Transport is pursuing the idea of removing parking spaces off the road without consulting residents – a plan called “bloody arrogant” by mayor Phil Goff. AT has today released ... Read more »

Parliament passes 'Self-ID Bill' at third reading, making it easier for trans people to update birth certificates

Politicians shared emotional messages to the “brave” trans and wider community as they supported legislation that allows people to change their birth certificates to reflect who they are. It has ... Read more »

(LEAD) BOK to adjust loose monetary policy amid worries over inflation, pandemic

(ATTN: ADDS BOK official’s remark, more info in paras 12-14) SEOUL, Dec. 9 (Yonhap) — South Korea’s central bank said Thursday that it will adjust the extent of its loose ... Read more »

The Paper Palace by Miranda Cowley Heller

The Paper Palace – Miranda Cowley Heller (Penguin, $37)reviewed by Louise Ward, Wardini Books Imagine yourself at the bach, or in this case the camp your family has known as ... Read more »

MetService Christchurch weather: December 10th

MetService Christchurch weather: December 10th Read more »

MetService Auckland weather: December 10th

MetService Auckland weather: December 10th. Read more »

Food the focus as The Hits teams up with Vinnies to tackle growing need

Image / Supplied Christmas always puts extra pressure on foodbanks, but Mike Rolton says he has never seen the need as high as it is shaping up this year. “Its ... Read more »

David Seymour's big mistake

The ACT Party leader David Seymour on his biggest mistake of 2021. Video / AM Show Read more »

MetService Auckland weather: December 8th

MetService Auckland weather: December 8th. Read more »

MetService Wellington weather: December 10th

MetService Wellington weather: December 10th Read more »

Labour MP Kiri Allan's cancer scan all clear after treatment

Labour MP Kiri Allan who was diagnosed with cancer in April says her latest scan shows “no sign” of the disease. The Cabinet Minister shared the “huge milestone” today via ... Read more »

Teeks addresses Aotearoa Music Awards lineup announcement controversy

Teeks has spoken out after backlash over a post announcing the Aotearoa Music Awards performing lineup. The critically acclaimed Māori musician addressed a report by The Brag outlining the lack ... Read more »

Covid-19: Why do fully vaxxed people show up in daily cases?

A Herald analysis has revealed the wide gulf in case rates between unvaccinated people and those who have received both jabs of the Pfizer shot. Ministry of Health figures show ... Read more »

Police appeal for help to find woman missing in Te Puke

Police are appealing for sightings of an older woman missing in Te Puke. In a statement released this afternoon, police said Louise was last seen at Carter House in Te ... Read more »

Covid 19 coronavirus: Mandatory vaccine passports introduced at Victoria University from 2022

Vaccine passports will now be mandatory for everyone at Victoria University of Wellington in 2022, with around 1 per cent of staff and students indicating they will not be vaccinated. ... Read more »

Kiwi tradies' online marketplace Builderscrack acquired by Australian company

New Zealand’s leading tradie marketplace Builderscrack has been acquired by Australia’s hipages Group Holdings Limited. The 100 per cent acquisition of MyQuote Limited, trading as Builderscrack, is for A$11.8m in ... Read more »

Auckland Council employee reported to police over alleged credit card and expenses fraud

A staff member at Auckland Council has been reported to the police for fraud after allegedly misusing a credit card and fiddling expenses to the value of $8000. General manager ... Read more »

SPCA appealing for information after two cats shot in Whanganui

The SPCA is seeking information from the public after two cats were shot in Whanganui. Both incidents occurred on Wednesday, December 1, in the Aramoho area. In the first incident, ... Read more »

BOK to adjust loose monetary policy amid worries over inflation, pandemic

SEOUL, Dec. 9 (Yonhap) — South Korea’s central bank said Thursday that it will adjust the extent of its loose monetary policy stance “appropriately” in consideration of inflation, the pandemic ... Read more »

S. Korea's population estimated to have peaked last year: statistics agency

By Kim Soo-yeon SEOUL, Dec. 9 (Yonhap) — South Korea’s population is estimated to have peaked at 51.84 million last year before falling to 37.7 million in 2070, the statistics ... Read more »

No reprieve for guinea pig, chicken-killing husky on Auckland's dog 'death row'

Aspen the husky, a dog who was ordered destroyed after he killed two other pets on Auckland’s North Shore in quick succession, has been denied a reprieve from a High ... Read more »

Focus: Business NZ refuses to take part in creation of Fair Pay Agreement

Workplace Relations and Safety Minister Michael Wood spoke about Business New Zealand's refusal to take part in the creation of Fair Pay Agreements. Video / Mark Mitchell Read more »

Employers could lose out after Business NZ walked away from agreements - Michael Wood

Workplace Relations Minister Michael Wood has fired back at Business NZ for pulling out of the fair pay agreement (FPA) process today, saying it is not needed to make the ... Read more »

Jacinda Ardern calls out commenter on Facebook live

Prime Minister Jacinda Ardern calls out commenter on Facebook live. Video / Jacinda Ardern Read more »

China factory gate inflation slows in November

BEIJING (REUTERS) – China’s factory-gate inflation slowed in November, driven by a government crackdown on runaway commodity prices and an easing power crunch, amid Beijing’s efforts to bolster the faltering ... Read more »

Forestry on farms fires up speakers at Dunedin debate

Is forestry a threat to rural communities or an opportunity too good to refuse? About 70 people attended the panel debate “Plantation forestry – threat or opportunity?” in Dunedin last ... Read more »

Covid-19: Omicron hits the vaccinated, but illness 'mostly mild' in US so far, says CDC chief

More than 40 people in the United States have been found to be infected with the Omicron variant so far, and more than three-quarters of them had been vaccinated, the ... Read more »

Smoking ban: Fears Smokefree 2025 legislation could stoke growing black market

Critics say plans to outlaw smoking for future generations will likely fuel an already-growing black market for cigarettes and more support is needed for people to transition to vaping. Meanwhile ... Read more »

Covid-19: Rapid antigen testing to be free for some domestic travellers over summer

By RNZ Free Covid-19 rapid antigen testing will be available for domestic travellers throughout Aotearoa from mid-December. The announcement on antigen testing becoming available was initially made last month, but ... Read more »

Finland PM Sanna Marin apologises for nightclubbing after Covid contact

The world’s youngest Prime Minister has apologised for going clubbing after coming into contact with a Covid case. Finland PM Sanna Marin issued a statement after a night out in ... Read more »

Covid 19 Delta outbreak: Marlborough Wine and Food Festival cancelled

Marlborough’s premier wine event, Marlborough Wine & Food Festival, has been deemed too risky to go ahead and cancelled by organisers amid Covid-19 fears. The festival was moved to Renwick ... Read more »

How to stay safe this summer

Road safety charity Brake is appealing to partygoers and organisers to ensure everyone in their group gets to and from celebrations safely over the festive season and summer. With the ... Read more »

Whangārei big cat park: Tickets for sale ahead of public opening

Big cats at the Kamo Wildlife Sanctuary are roaring back to life and the public can finally walk through the gates from Tuesday next week. Ticket sales for the opening ... Read more »

Jennifer Aniston gives a look into her personal life in most candid interview in years

The iconic actress Jennifer Aniston has opened up to The Hollywood Reporter and shared some very personal revelations from her time in the film industry. Most well known for her ... Read more »

Marlborough cancels Wine and Food Festival to save vintage

Next year’s Marlborough’s annual Food & Wine festival has been cancelled, as grape growers decide the gathering poses too much risk to our region’s wellbeing. Roughly 6000 were expected to ... Read more »

Herald afternoon quiz: December 9

Test your brains with the Herald’s afternoon quiz. Be sure to check back on nzherald.co.nz for the morning quiz tomorrow. To challenge yourself with more quizzes, CLICK HERE. Read more »

Prime Minister Jacinda Ardern shuts down Facebook commenter during live video

It’s been a long year and it seems everyone’s patience is wearing a little thin. Prime Minister Jacinda Ardern snapped at a Facebook user during a livestream yesterday, reminding people ... Read more »

Covid 19 Delta outbreak: Selwyn teen's life in limbo as she waits for vaccine pass exemption

West Melton teenager Daisy Meyers is being excluded from her sporting life as she awaits a vaccine pass exemption. The 16-year-old’s father, Darren Meyers, was on the phone to health ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic