Articles tagged with Inflation
NZ Government Commits to Fiscal Discipline with Surplus Target by 2029
3 days ago | 86 viewsFinance Minister Nicola Willis emphasizes the need for continued fiscal discipline to restore New Zealand’s budget surplus and reduce debt, despite Treasury’s forecast of a strong economic recovery with 3% growth and low inflation. The government aims for a surplus by 2028/29 through a medium-term fiscal consolidation strategy, maintaining tight control over discretionary spending and limiting operating allowances to $2.4 billion next year. Priorities include health, education, defence, and law and order, with new funding to come from savings and reprioritisation, ensuring the country remains fiscally responsible compared to other advanced economies.
Tags: Nicola Willis New Zealand Treasury Budget OBEGALx fiscal discipline economic recovery debt inflation governmentNew Zealand Minimum Wage to Rise 2% to $23.95 from April 2026
1 week ago | 106 viewsThe adult minimum wage in New Zealand will increase by 2% to $23.95 per hour from 1 April 2026, benefiting around 122,500 workers while balancing cost-of-living pressures and business costs. The government aims to moderate wage increases to address wage compression and support youth employment, with starting-out and training wages set at 80% of the adult rate. This change reflects the NZ First-National coalition’s commitment to responsible economic management, boosting incomes, and fostering job opportunities.
Tags: Brooke van Velden NZ First National coalition New Zealand minimum wage Workplace Relations and Safety youth unemployment wage compression Ministry of Business Innovation & Employment inflationReserve Bank Cuts OCR Again to 2.25%, Boosting Kiwi Economy in 2026
3 weeks ago | 134 viewsThe Reserve Bank has lowered the Official Cash Rate to 2.25%, marking the ninth reduction since July 2024, which is boosting economic activity and supporting forecasts of falling inflation and rising growth. This easing of rates is benefiting households by increasing mortgage renewal opportunities and enabling more Kiwis to purchase their first homes, with 23,600 first-time buyers in the past year. Finance Minister Nicola Willis highlights that these positive economic trends offer hope and improved financial choices for New Zealand families and businesses.
Tags: Nicola Willis Reserve Bank Official Cash Rate OCR New Zealand inflation economic growth mortgage lending first home buyers Kiwi familiesFinance Minister Pleased with Inflation Remaining in Reserve Bank's Target Range
2 months ago | 240 viewsActing Finance Minister Chris Bishop welcomes latest figures showing inflation within Reserve Bank's target range, with annual CPI inflation rising from 2.7% to 3% in the year to September 2025. Expectations are for inflation to decline towards 2% in the first half of next year, easing pressure on households and businesses. Top contributors to the annual increase were electricity (up 11.3%) and local authority rates and payments (up 8.8%), emphasizing the need for increased electricity supply and competition and the impact of local government rates on New Zealanders' finances.
Tags: Chris Bishop Stats NZ Reserve Bank inflation CPI government households businesses electricity local authorityFinance Minister Hails OCR Cut, Easing Pressure on Kiwi Households and Businesses
2 months ago | 226 viewsFinance Minister Nicola Willis highlights the positive impact of the 50 basis point Official Cash Rate reduction on Kiwi households and businesses, easing financial pressure. The reduction in OCR will lead to lower interest rates for mortgage-holders and businesses, stimulating growth and investment. The Government's focus on responsible economic management, along with lower interest rates, aims to support recovery and drive policies for job and income growth to benefit all New Zealanders.
Tags: Official Cash Rate Kiwi households Finance Minister Nicola Willis monetary policy interest rates growth jobs investment inflationNew Zealand's Gender Pay Gap Shrinks to 5.2% - Historic Low
3 months ago | 427 viewsNew Zealand's gender pay gap decreased from 8.2% to 5.2% in the June 2025 quarter, the lowest since data collection began in 1998, as reported by Stats NZ. Minister for Women, Nicola Grigg, hailed the improvement as positive news for women in the country. The government is dedicated to economic growth, with efforts to reduce pay gaps, increase wages, and create more job opportunities, though challenges persist in addressing ethnic pay gaps.
Tags: New Zealand gender pay gap Stats NZ Nicola Grigg Minister for Women wages inflation interest rates economic empowerment ethnic groupsFinance Minister Nicola Willis Reacts to Lower Than Forecast Unemployment Rates
4 months ago | 636 viewsFinance Minister Nicola Willis has acknowledged the latest labour market data, revealing a lower-than-expected unemployment rate of 5.2% for the June quarter, below the Treasury's forecast of 5.4%. Despite challenges like inflation and rising interest rates, the government's efforts have led to 8,000 fewer unemployed individuals than initially projected, with a focus on economic recovery and job creation through initiatives like government-funded construction projects and investment incentives. Additionally, there has been a notable increase in average hourly earnings by 4.5% in the past year, surpassing the inflation rate of 2.7%.
Tags: labour market unemployment Finance Minister Nicola Willis Stats NZ Treasury forecast economic management inflation interest rates job creationPrime Minister and Finance Minister Unveil Plans to Boost Economy, Jobs, and Income for Kiwis
4 months ago | 770 viewsThe Government, led by Prime Minister Christopher Luxon and Minister of Finance Nicola Willis, is prioritizing economic growth to create jobs, raise incomes, and assist New Zealanders with the cost of living. Initiatives such as scrapping surcharges, tax relief, and the introduction of FamilyBoost aim to alleviate financial burdens for families. By focusing on key areas like talent development, competitive business settings, global trade, innovation, and infrastructure, the Government aims to boost wages by growing the economy in the long term.
Tags: Government economy jobs Kiwis Prime Minister Christopher Luxon Minister of Finance Nicola Willis tax relief FamilyBoost inflationFinance Minister Nicola Willis: Inflation Under Control as Govt Focuses on Economic Growth
5 months ago | 892 viewsNew data released by Stats NZ today shows inflation at 2.7 per cent for the 12 months to the June 2025 quarter, remaining within the Reserve Bank's target range, according to Finance Minister Nicola Willis. This marks the fourth consecutive quarter of inflation being within the target range, contrasting with previous higher rates under the previous government. Local authority rates and payments were noted as the largest contributor to annual inflation, prompting the government to call for better management to keep rates under control and ensure economic growth for job creation and public services funding.
Tags: inflation Finance Minister Nicola Willis Stats NZ Consumers Price Index Reserve Bank New Zealanders council rates local authority rates economic growth New Zealand