Inflation hits 18 year high
Labour is making a habit of leaving office with economic problems for the new Government.
Stats NZ reveals that inflation for the year to September 2008 was 5.1% – its highest level since June 1990. Major contributors:
- Household Energy 7.5%
- Hospital Services 7.1%
- Private Transport 21.5%
- primary and secondary eduction 5.7%
The monthly food price index also came out today – and it is also at an 18 year high of 10.8%. Major contributors:
- Vegetables 22.3%
- Mutton/Lamb 17.3%
- Bread 16.5%
- Pasta 18.2%
- Cheese 42.3%
All fairly common items, to say the least.