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Cost Of Living Crisis Nothing New For Low-income Households
Low-income households continue to be the most affected by the cost-of-living crisis, according to recent data.
Today Stats NZ released the latest Household Living Price Index, which shows a decade-long trend of low-income groups bearing the brunt of inflation.
“For poorer New Zealanders, the struggle to keep up with the cost of living is nothing new,” said NZCTU Economist Craig Renney.
“This data once again proves their experience of inflation is much worse than that of higher-income groups. The cost of living cannot only be an issue when it impacts higher-income earners, as it is starting to occur now”.
Renney said the data confirms the need for policies like Fair Pay Agreements, the New Zealand Income Insurance Scheme, and lifting the Minimum Wage.
“For those on a lower income, they don’t have any more wiggle room in their budgets to deal with these increasing challenges. We need to ensure we deliver income support for those with the least ability to manage, and not tax changes for those with the most.
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