Published: Wednesday 20 July 2022

Inflation soars to 7.3% - the largest year on year jump in 32 years!

So what exactly is inflation? The Consumer Price Index (CPI) is a measure of inflation for New Zealand households.  It records changes in the price of goods and services.

A big jump in CPI means that the cost of living and the cost of doing business goes up considerably. During the current hardships, which include skills shortage, high absenteeism and dwindling supply of material, businesses and households can ill afford paying such high prices.

In order to increase productivity and to keep businesses afloat, we urge the government to allow people to go to work, if they are asymptomatic and test negative for COVID-19 using a RAT kit. It does not make sense in this environment to force perfectly fit people to remain at home.

It is very disheartening to see that as per InterNations, the world’s largest expat community, New Zealand was ranked 51 out of 52 countries as a preferred place to live for expats. It wasn’t that long ago that the world was flocking to our shores for jobs and lifestyle. We really have to lift our game. Quickly.

Our current policies make it extremely difficult for businesses to employ immigrants. It has hurt the economy like never before. Surely, with the lowest unemployment rates we have had in a long time, immigration rules need to be more business friendly. Is the government listening?

The recent announcement on fuel discounts and 50% off on public transport is very welcome. However, government needs to be looking at a clear long-term strategy to control CPI and engage with business across the country. As the voice for business, the Taranaki Chamber of Commerce is ready to engage.

 

What issues are concerning you and your business?  Business Voice is for you, and we want to hear from you.

Email us at admin@taranakichamber.co.nz and put Business Voice in the subject line.