Inflation Well Outside Target Range Still Punishing Struggling Kiwis

Responding to today’s release of the latest Consumer Price Index (CPI) figures, Taxpayers’ Union Policy Adviser, James Ross, said:

“Despite the fall in the Consumer Price Index, inflation still remains well outside the target range for the 31st month in a row. Even with a punishingly high Official Cash Rate, the deadly combination of high inflation and high interest rates is still lingering on.

“This inflation is driven by unsustainably high Government spending, and this culture of waste in Wellington is working at loggerheads with efforts from the Reserve Bank to control spiralling costs.

“It’s hardworking Kiwi families struggling under the cost-of-living crisis who are still being made to shoulder the burden of a Government which isn’t willing to make the tough choices. Those same families won’t see any improvement until this Government gets serious about slashing the reckless and inflationary overspending it has inherited."