Food prices worsen the cost of living crisis

New figures on food prices from Statistics New Zealand confirm the cost of living crisis is only getting worse on Labour’s watch, says National’s Finance Spokesperson Nicola Willis.

Data released today shows the highest annual food price increase in a decade at 7.6 per cent, with fruit and vegetable prices increasing a staggering 18 per cent in the past year.

“These numbers confirm what Kiwis already know: New Zealand is experiencing a worsening cost of living crisis, with prices running laps around wage growth.

“Meanwhile the Minister of Finance continues to pat himself on the back, telling Kiwis they are better off, while in reality many Kiwis are slipping further behind each month as they struggle to keep up with skyrocketing costs.

“Labour needs to stop playing the blame game on inflation and do their bit to rein in costs.

“The War in Ukraine isn’t to blame for fruit and vegetables going up by 18 per cent in the last 12 months.

“The Government should rein in its big spending plans, hit pause on plans to add more costs to business and prioritise tax relief for the squeezed middle.

“Right now the biggest beneficiary of runaway inflation is the Finance Minister – who will rake in billions more in tax receipts as a result.  He should put New Zealanders first and give them some relief. 

“Kiwi families deserve relief. Under National’s tax plan, a family with two earners each on the average wage would receive $1600 a year in tax relief. In contrast, Labour is doing nothing for the squeezed middle and their failed policies are pushing everyone further behind.”