Inflation in New Zealand

In addition to the prediction that gas will hit $2 per litre here (which would make gas $6 USD per gallon), food prices are going up as well. Dairy, in particular, is through the roof.


From last night's TV One News report:

Two litres of Milk is 20% more expensive, than this time last year.

It was a $1.85 last year, now it sells for $2.22. [I personally haven't seen milk for $2.22 anywhere. It's on sale for $2.50 for 2 litres today; the regular price is $3.00.]

Cheese is up by 60%, and Butter 92% dearer.

Your total food bill works out to be 9% more expensive than 12 months ago.

And ASB's Chief Economist Nick Tuffley, believes life will only get dearer.

"We are going to continue over the next couple of years to face high inflation, food prices, energy prices such as petrol and electricity," he says.