Responding to today’s confirmation that inflation has reduced to 2.2%, well within the official target range, ACT Leader David Seymour says:

“Annual inflation at last year’s election was 5.6% – and now it’s cut in half, and then some.

“This news is the beginning of real hope for Kiwis who’ve persevered through a cost-of-living crisis. We’ve turned the corner on interest rates, and now we’re returning to normalcy on inflation.

“While today’s inflation milestone is tremendous, price growth is still near the top of the target range and New Zealanders are still holding out for real relief. To turn hope into real prosperity the Government must keep saving, creating room for further interest rate cuts.

“We need to be ever vigilant of the inflation monster that Labour so recklessly let off the leash, so ACT will continue to push for the cancellation of spending programmes that do not generate real value for New Zealand.

“Of course, in the long run, reining in wasteful government spending means we do right by the Kiwis who pay the bills, letting them keep more of what they earn while paying down debt for future generations.”

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