You don’t have to be an economist to know New Zealand faces its highest annual inflation rate in 30 years – 5.9% as of December 2021. Visit a supermarket or petrol station and the evidence is right before your eyes.
The average price of petrol per litre is now up by 31% compared to last year. In some places, it has already hit NZ$3 a litre. To take just one grocery example, tomatoes doubled in price during the same period, contributing to the highest annual food price inflation since 2011.
