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Inflation Data Disguises Continued Higher Cost Of Living For The Poorest – New Zealand Council of Trade Unions
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Press Release – New Zealand Council of Trade Unions The Council of Trade Unions is concerned that today’s consumer price index (CPI) data shows that for the poorest New Zealanders the cost of living continues to rise well ahead of the official headline increase rate of 1.5%. CTU Economist Craig Renney …
The Council of Trade Unions is concerned that today’s consumer price index (CPI) data shows that for the poorest New Zealanders the cost of living continues to rise well ahead of the official headline increase rate of 1.5%.
CTU Economist Craig Renney said “the data presented continues to show faster increases in the cost of essential items, like fresh produce, rent, and childcare. These hit the poorest hardest and demonstrate the need for faster than CPI adjustments to the Minimum Wage, and for higher wage increases for the lowest paid employees”.