An economic expert says homeowners are disproportionately feeling the pain of the cost of living crisis
An economic expert says homeowners are disproportionately feeling the pain of the cost of living crisis
28 July 2023
Latest figures from Stats NZ show the average household's cost of living increased 7.2-percent in the year to June.
The official inflation rate for the period was six percent -- but interest payments went up 28.8 percent.
New Zealand Initiative Executive Director Oliver Hartwich says there's been a difference in the cost rises on average between renters and homeowners.
He says the interest rates increase means if someone is renting they'll be facing lesser rises in costs.
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