National launches website for struggling New Zealanders to share how the cost of living crisis is affecting them

The government pointed to the international factors behind the skyrocketing inflation rate, such as Russia’s invasion of Ukraine and the impact of the Omicron epidemic on the chains of supply both globally and here in New Zealand.

Speaking after the inflation figures were announced, Prime Minister Jacinda Ardern said other countries around the world were experiencing soaring inflation.

“It doesn’t make it easy for New Zealanders who are suffering from it. But it tells us where those pressures are coming from,” she said.

Ardern said the government had attacked one of the biggest contributors to inflation – petrol prices – by cutting the excise tax on fuel by 25% per liter while cutting fuel prices in half. public transport.

On April 1, a package of increases to the benefit rate, minimum wage and tax credit came into effect, which the government says will help low- and middle-income families fight rising prices, while the winter energy package returns from 1 May.

However, Luxon said the government must come up with a plan to bring inflation under control.

“Kiwis are facing the consequences of Labour’s economic mismanagement, with inflation in New Zealand exceeding that of Australia and many other countries.

“Rents have risen by $150 a week since 2017, interest rates are rising and wage increases are barely a third of inflation. Kiwis are shrinking under Labor and many families are struggling to reach both ends.”

ACT leader David Seymour said it was “a direct result of Labour’s reliance on borrowing and spending”.

“His incessant borrowing and spending has increased the cost of just about everything. Prices are rising because there is too much money for too few goods.”

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