Stories about surging inflation, successive food price rises and more Kiwis in arrears topped bulletins and filled front pages last year. But recent news about slowing inflation, cheaper food and rising business confidence hasn’t had the same impact. How come?
Within the last month, surveys finding business confidence rising and food price inflation falling for the fourth consecutive month made few headlines.
But the bad news still does.
Last Thursday, TVNZ’s 1 News told viewers “New Zealanders are getting behind on payments”.
“More than 400,000 people fell behind on credit payments and the number of mortgage accounts past due exceeded 20,000,” it reported.
This was also based in the latest monthly report from credit agency Centrix, showing 4000 more Kiwis in arrears than a month earlier.
But last year more people were in arrears - and in 1 News’ own report this week Centrix explained the season was the reason for the latest modest monthly uptick.
“People tend to spend money and incur credit prior to Christmas. And it then comes back to bite them early in the new year,” he explained.
Haha I actually intended to link to the RBNZ calculator, but must have forgotten.
I tried to find a US wage growth calculator (that would let me pick specific times to compare between) but wasn’t able to find something. Inflation over that 2000-now period was pretty much the same as NZ, very slightly lower. Maybe there’s another term used but I haven’t been able to find US data on wage growth since 2000, though I’m sure that data will exist.