Inflation hits 18 year high

Labour is making a habit of leaving office with economic problems for the new Government.

Stats NZ reveals that 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.

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