New Zealanders are expecting inflation will get worse, not better, new data released yesterday shows, National’s Finance spokesperson Nicola Willis says.

The Reserve Bank’s quarterly Household Expectations Survey for December 2022 shows New Zealand households think inflation in a years’ time will be 7.5 per cent, even higher than where it is now, and a record high result for this survey.

“This is a searing indictment on this Government’s management of the economy. Despite the spin, New Zealanders don’t believe Labour when they say they have got inflation under control,” Ms Willis says.

“All year Labour have been telling New Zealanders they are taking the cost of living crisis seriously. This survey result shows that no one believes them.

“Kiwis are feeling the pinch at the pump, at the checkout, and when they pay their rent or mortgage. It’s no surprise that the data also shows households’ perception of current inflation at a record high as well.

“New Zealanders need a real economic plan to tackle inflation and get us through the cost of living crisis. People have seen through Labour’s empty promises and want real solutions.

“National will deliver them that plan to fight inflation. We will unblock bottlenecks in the economy by easing our immigration settings, reduce costs on business, bring discipline to Government spending, allow prudent tax reduction and focus the Reserve Bank solely on an anti-inflation mandate.”

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