Electricity and council rate hikes keep inflation flame burning
Electricity and council rate hikes are keeping the inflation flame burning, with across-the-board price rises recorded in official data.
Statistics NZ's April Selected Price Indexes (SPI) report today showed food prices rose 3.7% over the year to April, following a 3.5% increase in the year to
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
National Business Review
15-05-2025
- National Business Review
Electricity and council rate hikes keep inflation flame burning
Electricity and council rate hikes are keeping the inflation flame burning, with across-the-board price rises recorded in official data. Statistics NZ's April Selected Price Indexes (SPI) report today showed food prices rose 3.7% over the year to April, following a 3.5% increase in the year to
NZ Herald
15-05-2025
- NZ Herald
Butter prices soar 65%, driving food cost higher, new data shows
But price increases were widespread, with all five food groups recording an increase, prices and deflators, spokeswoman Nicola Growden said. 'Price increases for dairy products led the increases for April 2025,' Growden said. 'The average price for 500g of butter was $7.42 in April 2025. That's nearly $3 more expensive than this time last year,' Growden said. The increase in the non-alcoholic beverages group was driven by higher prices for instant coffee, up 21.3% in the 12 months to April 2025. 'Instant coffee prices have increased $1.44 since this time last year. The average cost is now $8.21 per 100g,' Growden said. Stats NZ's selected price indexes provide a monthly update on 46.5% of the goods and services in the total consumers price index (which is released quarterly). It includes food, rent, travel and – for the first time this month – electricity prices. Electricity prices increased 2.3% in April 2025 compared with March 2025, while gas prices increased 1.1%. Prices for international airfares increased 24.7% in April 2025 compared with March 2025, while prices for domestic airfares increased 3.8%. 'The more expensive air travel costs coincided with school holidays and consecutive long weekends throughout April,' Growden said. The increase in international airfares was driven by higher prices for flights to the Pacific Islands, Australia and Asia. Rents rose 0.2% on a monthly basis and were up 3% annually, based on the stock measure. The stock measure shows rental price changes across the whole rental population, including renters currently in tenancies. 'Selected Price Indexes (SPI) for April came in a touch stronger than our expectation,' said ANZ senior economist Miles Workman. It was up 0.9% stronger ( month on month) than the flat read ANZ had pencilled in. 'But much of the surprise came from the volatile components,' he said.
Scoop
12-05-2025
- Scoop
Electricity And Gas To Be Included In The Monthly Selected Price Indexes
Press Release – Stats NZ The April 2025 SPI, scheduled for release on 15 May 2025, will be the first to include the indexes, which will be part of the housing and household utilities group. Stats NZ will begin publishing indexes for electricity and gas as part of the monthly selected price indexes (SPI). The April 2025 SPI, scheduled for release on 15 May 2025, will be the first to include the indexes, which will be part of the housing and household utilities group. General manager and macroeconomic spokesperson Jason Attewell said this is the next step in Stats NZ's continued commitment to improving and modernising the economic data it produces. 'The cost of electricity and gas prices are important to New Zealanders, especially as we head into winter. Adding these components to our monthly release now will provide decision makers and the public more timely information about energy costs,' Attewell said.
