The unwelcome news that New Zealand’s inflation rate has hit a 30-year high of 7.3% has confirmed what most of us knew all too well: the country is in a cost of living crisis, where essential everyday items are becoming increasingly unaffordable.
Some, particularly the National opposition, argue that the government isn’t doing enough to halt price rises. On the face of it, that’s true enough. The recent pause on the fuel excise tax, for example, didn’t stop gas prices from rising. But hidden within that example is the chief cause of inflation – corporate super profit-making.
