Latest CPI

April 17th, 2013 at 4:00 pm by David Farrar

Stats NZ released Q1 2013 inflation data today. The CPI went up 0.4%, and only 0.2% if you exclude the increased excise tax on tobacco. This brings the annual inflation rate to 0.9% which is good.

I had a look at the electricity component of the CPI and went up only 0.15% in the last quarter.

has now been in Government for 17 quarters. The total increase in electricity prices over those 17 quarters has been 16.4%.

During the last 17 quarters of , electricity prices increased 33.1%.

The moral of the story is it is very easy to promise things. But I think you need to judge those promises against their record.

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16 Responses to “Latest CPI”

  1. Manolo (13,355 comments) says:

    The coward left-wing MSM should be highlighting these figures, and taking Captain Mumblefuck Shearer and the socialists to task over their lies.

    It will never happen, though.

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  2. RightNow (6,654 comments) says:

    “The moral of the story is it is very easy to promise things. But I think you need to judge those promises against their record.”

    Labour claim they’ve learnt from the past. But if Labour really want voters to believe they’d be different if they were re-elected they really need to prove it.
    To me it still looks like the same bitter old faces yelling the same bitter old class-rhetoric with no vision other than opposing everything National does.

    Their intention to undermine the value of MRP shares is a classic case of shooting yourself in the foot. If, as I expect is highly likely, Kiwisaver funds invest in MRP shares, then it’s just a disincentive for any Kiwisaver member to vote for Labour (and their cohorts). It’s a campaign that writes itself for National.

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  3. SPC (5,392 comments) says:

    Yes there were higher power prices after the formation of SOE’s and introduction of user pays in charging, then a lower rate afterwards.

    And yet again after the Bradford reforms and the competing SOE’s funding their expansion of power generation and the upgrade of the transmission network another period of increasing power prices. This increased capacity and upgrade work having been invested in, of course power price increases would later fall off.

    Who was in government at the time made no difference.

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  4. SPC (5,392 comments) says:

    Right Now, Kiwi Saver finds invest in a broad portfolio the extent of power company shares in it would be low. And the lower the price of the shares in the first few years the greater the long term return for the Kiwi Saver fund buying up some shares in the first year or two.

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  5. Alan Johnstone (1,060 comments) says:

    Reading this I see price increases for things that poor people tend to need to buy, like petrol, rates, house rentals, prescription charges, power costs. Offset by falls in things that poor people tend not to buy like international airfares, audio visual equipment.

    I’m ok with it, if I was poor i’d be less cool with this report.

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  6. hamnidaV2 (247 comments) says:

    Congratulations to National. I have definitely noticed a sharp decline in my power bills since they came into office.

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  7. Inky_the_Red (735 comments) says:

    So the price of electricity went up far too much under Labour. I agree with that as it increased by 3 times the general rate of inflation.

    Can some one explain to me having increase far too much over the last 10 years the price continues to rise?

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  8. Manolo (13,355 comments) says:

    Fool’s gold: jumping with joy because unjustified hikes are taking place at a lower rate. Fucking incredible.
    As difficult is for me to agree with hamnnidaV2, the minion Labourite is right.

    Labour lite has slowed the pace but given us bugger all.

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  9. RightNow (6,654 comments) says:

    SPC – will that be part of Labour’s campaign then :)

    They could expand it to: “We promise to knock down the value of everything so investors can buy up large and reap huge profits when we’re kicked out of government again”

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  10. SPC (5,392 comments) says:

    It’s a poor government that no one can profit from.

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  11. sparky (235 comments) says:

    Our power has been a lot more stable under a National Government. We really noticed the increases big time under Labour.

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  12. Viking2 (11,127 comments) says:

    Lots of uniformed yatter about house prices. Here is another view.(backed by numbers of course).

    Historical figures actually suggest the current surge in Auckland house prices represents a period of ‘catch-up’ on other regions

    Your writer sat down armed to the teeth with facts and figures, determined to sculpt a piece of prose that definitively underlined how the Auckland house market is continuing to roar ahead of the rest of New Zealand, leaving it in its dust.

    But he decided not to do that, because that’s not actually what historic data suggests.

    http://bit.ly/XFFYKP

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  13. pq (728 comments) says:

    Viking, I think you have to realise Auckland is a desperate uninviting meaningless City, devoid of any centre of culture, but just a manufacture blob. Dorkland is out pricing itself and becoming a cruel spread out wasteland, Answer me here Viking.

    Tell me why we should pay $NZ 400,00 for cheap NZ crap housing. go on give me the answer here

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  14. swan (659 comments) says:

    So even with a massive rise in tobacco excise, the RBNZ missed its target. Why is that good?

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  15. EAD (591 comments) says:

    If you ever want an understanding of how we have come to live in a society whereby we are told we should aim for2% inflation when our instincts tell us that deflation is surely more logical (as prodcutivity increases) and a better outcome due to increases in our purchasing power, then you could do worse than read the below article. It is about a 10 minute read but for many, it will cause the scales to drop from your eyes.

    http://mises.org/daily/6314/Banking-and-the-State

    Enjoy!

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  16. emmess (1,368 comments) says:

    If you ever want an understanding of how we have come to live in a society whereby we are told we should aim for2% inflation when our instincts tell us that deflation is surely more logical

    Because no one would put up with a pay cut (even if it is a real increase year on year) so unemployment would go through the roof.

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