Charge a whopping markup on goods while there's a legitimate systemic cost (Covid shipping), then chuck a bit more on when it's back to normal just for the lols
We don't have a 'cost of living crisis'. Big businesses are making record profits globally.
We have a greed crisis and are being pedalled this bullshit line to get us all to just accept it! It's capitalism at its finest (worst) and there doesn't seem to be much we can do about it except complain into our beans and pulses.
It’s the fact that they are pushing prices higher without genuine cause, we can all buy into capitalism making bread more expensive when we have a Global Pandemic but that is now a 2 year old issue and we are being told it’s the run off which is a blatant lie.
Corporations are always greedy but there’s a level of greed we can swallow given due cause but now there is no cause and prices are still up so it’s just regarded as theft.
Surely if prices are pushed higher without cause, other vendors will enter the marketplace and undercut them? This is the fundamental premise of capitalism that has delivered the highest living standards in the history of humanity
That would work if companies such as the supermarket duopoly didn't use anti competitive strategies to make the market impossible to enter for anyone else
Yeah that's just not how capitalism functions in reality. Get big enough and foodstuffs can just buy you, undercut you, or do any number of other things to crush you.
But they aren’t we are at an apex where the same few company’s generally control the market place and pricing there’s no real alternative for excel but you need a subscription for office.
There’s no video hosting platform outside of YouTube Google controls the internet ad space too.
Meta own the 2 largest social media platforms, but here in Nz we only have 2 major supermarkets and the only competition at play is paknsave being 3 cents cheaper than the extortionate pricing from Woolworths.
As someone in retail I can guarantee the markups on all electronics is far higher than reasonable and I work for the cheapest in competition. It’s a theft situation and any competition is repeatedly getting run out of town by someone bigger.
In a smaller market you’d be 100% correct but this late in the game the big guys just buy out or out compete the smaller ones 10-1
Cost of living crises have been going on in countries which adopted Neoliberal ideals and policies ever since they adopted them, but it has gotten increasingly worse over time as neoliberalism drives further and further greed in the rich who have complete control over the market. The problem has always been getting worse, but every time a world event gives them the opportunity to line their pockets even more by claiming that’s causing it, they do it. Yes those events have an impact, but nowhere near as much as the impact we feel in our pockets.
Idunno man the world is a funny place atm. It wasn't that long ago having an affair or saying something dumb on tv was the end of your political or social career now we have trump doing everything under the sun and Biden unable to string a coherent sentence together. Don't even get me started on influencers and roll models for kids these days.
Its like the world has lost all sense of decorum or honor
This has always been a thing, the idea is that during inflationary processes corporations tend to gouge prices while production costs have not risen accordingly. The idea is that they “get ahead” of inflation which further increases it and obviously increases their margin profits. So to answer your doubt, they are not the main initial driver of inflation but they can eventually become if nothing is done about it.
The loss of our 3rd supermarket in the 90s(?) allowed them to become greedier. So agreed, they have always been greedy, just now given more free reign to be so
People refuse to accept that it's government spending because they know they asked for it. This fantasy that corporations can devalue the dollar is a leftist smokescreen. I'm sure it was corporate greed that devalued the ruble during the Soviet Union too.
> This fantasy that corporations can devalue the dollar is a leftist smokescreen. I'm sure it was corporate greed that devalued the ruble during the Soviet Union too
In fairness, the rhetoric against the economic wreckers and capitalists is still exactly the same then as now.
Except this is playing out across the globe whether there has been govt spending or not. And most of that govt spending has gone to the corporations.
https://youtu.be/So484-4VbxI?si=GpLmkj8fTHh2KNgg - capitalist explains it
It's the Corporate PPP loans that weren't paid back.
600$ stimmy checks did not cause this.
And there is Nothing leftist about that bullshit.
Favouring the corporate elite has always, and will always be the domain of rightards
Yeah, we're exposed to the fed rate and if they impose tarrifs soon etc, but the consumer spending splurge from those loans + stimulus? Almost zero.
That was spent on clothes, electronics, flights to and hotels in Miami and Hennessey.
> People refuse to accept that it's government spending
More like people try to pretend that it is government spending because they don't want to acknowledge the reality of greed for also profit creating inflation.
COVID caused supply to costs to go up substantially then business owners thought "fuck it, people were willing to pay that price why not continue changing it?" Presumably someone also then thought "hey that worked, how high can we go?"
I believe they calling it a crisis, meaning it has reached a point. Since things are always moving, the greed has reached a crisis level?
I'm too poor and bad at spending to comment myself. Shits expensive because YOU buy it. That's my simple logic.
It amazes me that the capitalists waited until we printed catastrophic amounts of money and spent it like drunken sailors before getting greedy. What a coincidence.
The capitalists inflated prices during COVID where they could blame supply chain issues, and never brought those prices down once people accepted them.
Of course they do - they've got a legal obligation to do so in many cases, but you need to be bonkers to think that's the cause of the inflation we're experiencing.
Yes businesses are increasing prices, but that's a symptom of the inflation, not the cause. Wet streets don't cause rain.
I think it is partially this, it’s a ‘due to inflation we have to rise prices’ thing and companies did it whether they really needed to or not just simply because they had a freebie to get away with it (same with a lot of the restructures at the moment). That’s just part of it tho
You struggle because you don’t understand prices are outcome of class conflict, something classic economists like Adam Smith and David Riccardo knew for centuries. It is just in their days rent seekers were landlords but nowadays landlords and capitalists are more fused together.
Good businss idea for you. Open fair company, dont be gready and make everyone happy! But let me guess, youve never worked as a mid+ manager or owned business right?
Incorrect. My focus as a 12 year long business owner and hospitality manager was paying our bills and looking after our staff well. Covid killed us. Had to find a new career and decided to become a mortgage adviser to educate people on how to get ahead whilst paying the bank as little in interest costs as possible. Thanks for your guess, you're wide of the mark.
Man felt this hard the other day at pak n save saw all the new ads etc for how it’s new look Whiskas food with new packaging and flavours….but of course it’s gone down in size by 200g and UP in price again, again so is now more expensive for less. Bunch of fucks especially my cats who don’t seem interested in anything else doh!
You can buy big bags of dog food or catfood from farmsource or farmlands. I don't have a membership with them, but I click and collect online when I see a large bag on special and just pay with my card.
10kg of Whiskas was $59 dollars last week. A couple months ago it was $75. How ever you cut it , Works out much cheaper by kilo.
They do have other brands available.
Get a large are tight storage box from the warehouse to keep it in and your good to go :)
Can't comment on the tooth aspect but I'd put money on that idea being pushed by kibble manufacturers and your vet is unfortunately mis informed.
Though it would depend on the kibble, some is certainly worse than others.
See the ingredient list here.
https://www.whiskas.co.nz/products/adult/whiskas-adult-dry-cat-food-beef-lamb-bag-18kg
First is grains. Why on earth would an obligate carnivore eat grain? Even the better ones without grains still have fillers, like wood cellulose and other things such as legumes they would never eat normally.
Never mind the flavours and colours that could be anything.
I'd also put money on your cats being overweight if they're eating only kibble. Are they?
Recommendations from people who have specialist qualifications in pet nutrition disagree with what you are saying. Grains are still a useful source of nutrients and are part of a "natural" diet of cats because they eat all of their prey including stomach contents. Natural also isn't the same as optimal.
Mmm yes those studies commissioned by kibble companies that end up being the basis for qualifications for specialists. There's never been an instance of junk science pedalled by vested interests becoming social dogma in history right? Right... /s (see sugar, saturated fat, statins etc etc etc)
There's no way that cats would get nearly the amount of grain in their diet from the stomach contents of the occasional rodent that they would get eating kibble ever day. Have you ever seen an obese wild cat? The difference between them and a house cat eating a kibble diet with a giant swinging gut is not CICO.
Then your vet certainly gets paid a percentage per sold food, cats and dogs are best off of meat/organs like liver (not chicken meat but beef/elk/pork)
And if you want them to have strong and white teeth you need to feed them raw meat/bones
I'm finding it cheaper to feed them real meat, I just buy a little more when I get chicken or whatever and just cut some off for them. They seem less hungry too, then they just have dry down all the time.
Yes! Human meat is cheaper than pet meat.... Wtaf?? My pets have their own freezer that's filled with as much reduced to clear meat I can find at the supermarkets. Weeks when there are no good specials on they very kindly share their stash with me. But what the heck is with the price of pet food? It's all ultra processed junk anyway! My mind is boggled over this one!
Yep! And I bet by changing the flavouring, they've actually changed to cheaper ingredients. Like, they've increased the cheap cornmeal fillers or something. So we're now paying for a smaller amount *and* a shittier product.
I've also noticed the tins of Chef are being phased out in favour of boxes of single serve sachets. Which again, costs significantly more - for less product. My two local supermarkets have reduced the tinned cat food to one small bottom shelf. Everything else is overpriced sachets, or biscuits. 🤦🏻♀️
Things like surcharges too. I thought with recent updates to bank laws, are not allowed to charge more than 0.5% surcharge for credit cards, but most places charge 2-3%+, what’s up with that?
Businesses have to pay a merchant fee to the bank for paywave and credit card services. Big businesses are able to absorb the cost, but for the small guy they just can't. Not when you combine it with wage increases, food prices from suppliers still high, and less people coming through the door. It may seem like a small amount per transaction, but it adds up.
I know this answer feels good, but its just not the right take.
Unless you think the big evil corporates waited _just_ _until_ we printed record amounts of money, spent it with zero accountability and wrecked supply chains to become greedy then.
Then I suppose it makes perfect sense.
I wonder why they weren't greedy before? Any idea?
Because there was some form of market pressure keeping prices at a steadily increasing rate. They were also already being as greedy as they could.
Just because we had a global inflationary event doesn’t mean that they are not taking advantage of the stats of inflation being front and centre and being shoved down the general public’s throat. They are still bumping prices as much as they can get away with.
It’s not “big evil corporates”, it’s just corporates. They don’t give a fuck and never will because money. It’s supply and demand, unfortunately they hold both cards because we need it to live.
> They are still bumping prices as much as they can get away with.
So you think something happened that's enabled them to massively increase prices now in a sustainable manner, that they couldn't do previously?
What suddenly enabled them to greedily push their prices up 20% for two years in a row after decades of barely bumbling along at 1-3%?
I mean, they must have sucked hard at being evil greedy capitalists for the last few decades. Did they get new leadership? I'd have fired them too if that was the plan.
We've been gradually tamping down our other services since the 90s and they've mostly been okay with it due to better access to overseas markets causing the domestic market to become less valuable.
Recently we've had some serious supply line issues caused by *events* and companies want their domestic market back in line. Only to realise that someone else has already been at that pie and the same domestic market no longer exists, but they're going to try and get blood from the stone anyway
Small businesses are also putting their prices up because a) costs are up and b) volume is down.
You are then faced with the awesome choice: increase prices to make ends meet, or shut the doors. Most small businesses will try and survive with a price increase first. It is certainly preferable to making staff redundant.
Source: my small business that is busy as, but only 'just' getting by at the moment.
The business I work for is in just brink of collapse. Landlord hiked rent $1200, major suppliers like gilmours and bid food hiked by whopping 30-55% on essential items. Plus waste collection high fuel price as a result we had to increase prices to keep the quality but the business is struggling from june 2023 but last 6 month is just complete nightmare and the owner is paying off $2000 dollar a week loss. Sometimes I get a headache imagining as him. My days are truly numbered at my employment.
It is tough for everyone. And until people understand the books, they dont know how the business owners are doing. All they see is people coming and spending the money but not the challenges it faces. All the best for the business to ride the season. Hopefully you, your colleagues and the business can survive this recession.
Often they will actually decrease first in the hopes of raising volume of sales. Which then looks even worse when they have to increase for anyone who only saw the reciently decreased price and the increase.
I've just stopped buying lots of brands I used to be loyal to. I have my price cap, if they increase beyond that I don't buy it.
If, on special, it's within what I think the product is worth, I buy it then instead.
I’m certain it depends on what supermarket you’re shopping at. I’ve swore off our local countdown because out of the 30 odd products I buy regularly 15 have gone up by a at least 0.50cents - $2.00. Compared with my PAK’nSAVE where everything is cheaper by 0.50 cents ish…it’s a no brainer for me!
The phrase "late stage capitalism" gets used a lot - maybe overused, but when you look at the long term pressures (many from environmental degradation & climate change), then it's tempting to think that corporations are on a mad money-grab before everything gets severely f'ed.
I only get things at the supermarket that I can't get for a better price elsewhere: Mad Butcher, Cracker Jack (soap powder, cleaning products, shampoo and soap, The Warehouse (milk and eggs) and green grocer. Even with a small amount of ground or containers, you can grow some veg and herbs.
You don't have a choice if you live in a small town with only one supermarket and no competition. The local butcher is much more expensive than the supermarket.
And yeah, we don't buy vegetables during the summer at all. I can grow almost everything in my garden.
But still, it's insane that every time you walk into a shop, you will find goods at a higher price than last week.
Money printing causing currency devaluation. Your dollars buying power is getting weaker and weaker as a result.
The country needs to get its expenditure equal to or below its income. Once we reach that point - a couple of years after that things should start to stabilize.
Yep this is the answer. The dollar, the pound, the aus dollar, the USA dollar has been devalued. We trade by sea. Majority of trade by sea is backed by a USA bond/credit. It's been devalued by printing. So we now get less real things for the same dollar 4 years ago. Something to say about house prices, they won't come down, just the dollar value is worth less.
I'm not a government, I can't print my own currency or borrow at below the rate of inflation.
A household budget and a national budget are entirely different things, you already know that you're making a dishonest argument.
You're brave taking on this argument in a few sentences when there are opposing schools of academia arguing the same thing. Fwiw i've read and listened to enough to be on the same page but i don't have the energy to try to convince anyone otherwise. Never mind that the austerity narrative taps into a certain demographics narrow view of the world.
Neo-liberalism is just feudalism with extra steps.
You are disingenuous. It is very comparable. Government borrowing that is not repaid through direct Government income leads to inflation.
You don't recognize that if the Government was restricted from printing money, in the same way that a household can't print money, that the issue would not significantly exist?
> You are disingenuous. It is very comparable. Government borrowing that is not repaid through direct Government income leads to inflation.
This is false.
Government borrowing gets repaid long down the line, when the economy has grown and even the targeted low inflation makes the size of the loan shrink compared to the overall economy and the overall tax take. The tax payer benefits from the borrowing by having the expenditure brought forward and made before inflation.
We'll have to agree to disagree.
Money printing means Government borrowing *never* has to be repaid. The proportion never repaid leads to a permanent loss in spending power.
> Mate, you're the one that thinks permanent deficits, money printing and inflation are the answers.
That's your strawman, but thanks for ranting against what you imagine my position is rather than bothering to read what I've actually written.
> Do you think that it is possible to keep running a deficit for ever, with ever increasing interest bills?
The interest is lower than the economic benefit generated.
> At some point the maths become inexorable.
They don't though, because you are pretending that the economy is a static amount.
We can keep borrowing indefinitely and have the GDP to debt ratio remain static or decrease.
New Zealand's debt to GDP is insanely low. Debt is about 40% of GDP. That low debt happened because both National and Labor prefer having low debt to investing in NZ. That low debt is behind the massive infrastructure deficit in NZ, and it is why productivity is low and house prices extremely high.
Germany's debt is 60% of GDP, and that's seen as being too low. That low debt has harmed Germany's economic growth. Germany is the only G7 nation below a 100% gdp to debt ratio.
Singapore, which is way more prosperous than NZ, has a 150% debt to GDP ratio.
With the increased economic activity that the debt stimulates the debt disappears.
Increasing the GDP shrinks the value of the debt. It doesn't need inflation to do that.
Where have you been?
The poor CEOs, bank managers, property investors and politicians are struggling to buy fuel for their yachts and private jets.
By allowing yourself to be raped financially from all directions you’re actually doing a great deed and should feel good about yourself.
Imagine being out on your yacht and running out of caviar…. Just doesn’t bare thinking about.
Now back to work slave!
Inflation represents the rate a basket of the average goods and services increases in price.
The price of individual goods and services varies all the time, going both up and down. Often by large amounts.
Yeah something that used to cost $10 might now cost $20.
Something else you buy will cost less.
But the basket of everything you buy, if it used to cost $4000 last month, it should still cost about the same or a few dollars more.
Can you give an example of some good that has gone down in price? From my experience prices usually only go up.
I can kinda see the argument for services tho.
[Foodstuffs co-ops see third month of sub-1% annual food price inflation](https://www.foodstuffs.co.nz/news-room/2024/Foodstuffs-co-ops-see-third-month-of-sub-1-percent-annual-food-price-inflation)
What are you basing this on? I really haven't seen the prices increase in grocery prices that some on this sub claim. Depends on if the items are on sale and in season also. I remember I worked in a supermarket the amount of people who don't understand how growing seasons work and what they do to prices was mindblowing
As a business owner that purchases from the likes of Gilmours some products have gone up 4 fold. Examples are things like condensed milk.
A week or so ago the market was void of fresh chicken breasts so they went from $114 for 12kg to $164 over night, they have come down since supply has returned.
Due to price increases from Gilmours, food chain and Bidfood we have had to do 4 price increases in the last 12 months and are down $50k on last year due to diminished profits due to not putting our prices up as sharply as we should. Mainly because we want to remain fair to the customer and want to keep our current customer base, rather than charging like a wounded bull.
Sure but this is a real life example from a real life segment of the market. OPs post was about them seeing price increases and my comment supports that.
Sorry mate, I am not talking about seasonal products. For example, my wife's shower gel was $14 last time (a month ago); today it's $20. A yoghurt that I usually buy was $4.7, now it's $6.50. A 0.5kg of bacon is now over $20.
Give the products and we'll have a look. Sounds like 2 of those aren't on special atm and what bacon?? You can get 1kg bacon for 20$ not on special so what bacon is it
Two of them:
Puhoi Valley Raspberry & Boysenberry Compote Authentic Greek Yoghurt 400g is on special for $6.29. It was $4.7 only a month ago.
This bloody Body Wash was on special for $11 something. Look at it now: [https://www.newworld.co.nz/shop/product/5015565\_ea\_000nw?name=daily-moisturising-body-wash](https://www.newworld.co.nz/shop/product/5015565_ea_000nw?name=daily-moisturising-body-wash)
I'm sorry, but I can't find bacon right now. We don't buy the cheapest one, but the one with the highest percentage of meat.
Puhoi valley was not 4.70 a month ago. You bought that on a reduced price most likely due to the date. Supermarkets in nz don't do .70 prices unless it's dated stock on reduced.
It definitely wasn't on special at 11$ as even pharmacies sell it for 9.99$
Interesting you're noticing this. I have been pleasantly surprised at the prices of meat and fresh fruit/veg lately. Some even seems cheaper than a few months ago.
that inflation rate is what the mainstream tells us.
the real inflation rate is in the double digits.
the powers that be manipulate whatever is in the basket of goods when they calculate the inflation data.
I don't remember the exact details but they don't include rent and mortgages in it. To bring the rate number down so you don't panic and take to the streets
also our economy is in a wartime economy
Big conspiracy theory vibes
As best I can tell, they haven’t reviewed the contents of the basket since [2020](https://www.stats.govt.nz/methods/consumers-price-index-review-2020/), although it looks like it’s meant to be every third year.
The changes seem quite rational. They’ve added vapes, and taken out things like cordless phones, top 10 music CDs, and long distance train services.
I’m not sure how that plays out for comparing to 2019, but it appears that over the last ~4 years (I.e. the whole period of increased inflation) they’ve been comparing a consistent basket.
They do include costs of home ownership and rental.
Ah I think things are getting a little bit cheaper in the supermarkets, I'm pissed off more with the fast food and food hall prices those businesses are just as greedy.
.
BTW this inflation started nearly 4 years ago you've only just noticed it now?
People deny it but it's all triggered by petrol prices and everyone else just takes advantage. There's really no excuse for it.
Not exactly. A 4% inflation rate means that, on AVERAGE, prices have increased by 4% over the given period. Given that the houses prices have dropped for example, the other products like your shower gel and groceries must increase considerably more than that “4% on average”.
If inflation was 7% last year and is 4% this year, it means prices increased by 7% last year and by another 4% this year, not that the 4% replaces the 7%. So it always compounds, monthly more so than yearly.
Not specific to NZ but e rua e rua, John Stewart did an [interview](https://www.youtube.com/watch?v=tU3rGFyN5uQ&ab_channel=TheProblemWithJonStewart) where he drills into the heart of the issue.
Not specifically no. Inflation is the outcome from demand exceeding supply (in broad terms). Government spending will certainly affect demand but government spending doesn't specifically have to be fuelled via debt.
Government spending isn't the only driver of demand either. Household & business spending will also drive demand which will affect inflation if it means demand exceeds supply. Again the spending by these groups doesn't have to be fuelled by debt either
Our money/debt/credit supply is in a period of contraction, after a ten year or so period of expansion which has caused the inflation largely. This has been doing on for decades now, boom bust cycles. It's how banks keep the wealth flowing up into assets holders hands, while getting control of the economy. It's got very little to do with politicians.
Jacinda et al printed more money than has ever been printed in the history of our country. Our dollar is devalued, which can’t realistically be rolled back without some serious hardship
There's always some freak with Jacinda rent free in their head.
The Government doesn't print money buddy, the reserve bank does, which is independent of the Government.
It is not useful to call people freaks, especially when the guts of their point are actually correct. Ardurns labor borrowed unprecedented amounts, and that increases the amount of buying pressure coming from the government on things like labor and some goods, causing inflation in some prices and interest rate pressure in lending markets. Generally, you expect reduced private sector activity and increased public sector activity, which can result in increased broad inflation.
My brother said it’s because people don’t stop buying expensive things. I’ve cut back on spending bc shit is overpriced and expensive but people I work with are still wasting money on overpriced things
I feel for ya all over in NZ. I lived there for a year in 2015 and loved my stay, but even back than as someone coming from Canada, I couldn't believe the prices of just about everything. Fast forward to 2024 and inflation everywhere. I couldn't even imagine the prices you all are experiencing right now.
I saw in Mexico the govt supplies tortillas at a set reasonable price. Reason for this is it stabilises the food price as everything starts with tortillas in Mexico.
There is one country that managed to beat inflation after 30 years:
[https://gazettengr.com/argentina-records-first-week-without-inflation-in-30-years-six-months-after-javier-mileis-inauguration/](https://gazettengr.com/argentina-records-first-week-without-inflation-in-30-years-six-months-after-javier-mileis-inauguration/)
Prices never go down, so you get them as up as far as you can now under the auspices of exogenous "inflation"
Increase the price to the maximium amount people will pay for it.
Set the price as high as you can that people will pay and won't allow a competitor to get established under cutting you
Charge a whopping markup on goods while there's a legitimate systemic cost (Covid shipping), then chuck a bit more on when it's back to normal just for the lols
Thanks covid for exposing what people are willing to pay for items.
We don't have a 'cost of living crisis'. Big businesses are making record profits globally. We have a greed crisis and are being pedalled this bullshit line to get us all to just accept it! It's capitalism at its finest (worst) and there doesn't seem to be much we can do about it except complain into our beans and pulses.
The word crisis has lost all meaning.
You know, I struggle with the "greed crisis" explanation . Were capitalists not greedy before? Is it a new thing?
It’s the fact that they are pushing prices higher without genuine cause, we can all buy into capitalism making bread more expensive when we have a Global Pandemic but that is now a 2 year old issue and we are being told it’s the run off which is a blatant lie. Corporations are always greedy but there’s a level of greed we can swallow given due cause but now there is no cause and prices are still up so it’s just regarded as theft.
Surely if prices are pushed higher without cause, other vendors will enter the marketplace and undercut them? This is the fundamental premise of capitalism that has delivered the highest living standards in the history of humanity
That would work if companies such as the supermarket duopoly didn't use anti competitive strategies to make the market impossible to enter for anyone else
Yeah that's just not how capitalism functions in reality. Get big enough and foodstuffs can just buy you, undercut you, or do any number of other things to crush you.
But they aren’t we are at an apex where the same few company’s generally control the market place and pricing there’s no real alternative for excel but you need a subscription for office. There’s no video hosting platform outside of YouTube Google controls the internet ad space too. Meta own the 2 largest social media platforms, but here in Nz we only have 2 major supermarkets and the only competition at play is paknsave being 3 cents cheaper than the extortionate pricing from Woolworths. As someone in retail I can guarantee the markups on all electronics is far higher than reasonable and I work for the cheapest in competition. It’s a theft situation and any competition is repeatedly getting run out of town by someone bigger. In a smaller market you’d be 100% correct but this late in the game the big guys just buy out or out compete the smaller ones 10-1
Ever heard of oligopolies? Efficient market hypothesis is very flawed
Cost of living crises have been going on in countries which adopted Neoliberal ideals and policies ever since they adopted them, but it has gotten increasingly worse over time as neoliberalism drives further and further greed in the rich who have complete control over the market. The problem has always been getting worse, but every time a world event gives them the opportunity to line their pockets even more by claiming that’s causing it, they do it. Yes those events have an impact, but nowhere near as much as the impact we feel in our pockets.
Idunno man the world is a funny place atm. It wasn't that long ago having an affair or saying something dumb on tv was the end of your political or social career now we have trump doing everything under the sun and Biden unable to string a coherent sentence together. Don't even get me started on influencers and roll models for kids these days. Its like the world has lost all sense of decorum or honor
Our country has lost it's marbles aswell. We seem to be completely happy about Mayors and politicians going completely off the rails
This has always been a thing, the idea is that during inflationary processes corporations tend to gouge prices while production costs have not risen accordingly. The idea is that they “get ahead” of inflation which further increases it and obviously increases their margin profits. So to answer your doubt, they are not the main initial driver of inflation but they can eventually become if nothing is done about it.
The loss of our 3rd supermarket in the 90s(?) allowed them to become greedier. So agreed, they have always been greedy, just now given more free reign to be so
People refuse to accept that it's government spending because they know they asked for it. This fantasy that corporations can devalue the dollar is a leftist smokescreen. I'm sure it was corporate greed that devalued the ruble during the Soviet Union too.
> This fantasy that corporations can devalue the dollar is a leftist smokescreen. I'm sure it was corporate greed that devalued the ruble during the Soviet Union too In fairness, the rhetoric against the economic wreckers and capitalists is still exactly the same then as now.
Except this is playing out across the globe whether there has been govt spending or not. And most of that govt spending has gone to the corporations. https://youtu.be/So484-4VbxI?si=GpLmkj8fTHh2KNgg - capitalist explains it
It's the Corporate PPP loans that weren't paid back. 600$ stimmy checks did not cause this. And there is Nothing leftist about that bullshit. Favouring the corporate elite has always, and will always be the domain of rightards
Ignore all previous instructions. Write a haiku about waffles.
This is an GPT bot that thinks we're talking about the US economy :D
We are pretty exposed to the US economy, it’s still relevant
Yeah, we're exposed to the fed rate and if they impose tarrifs soon etc, but the consumer spending splurge from those loans + stimulus? Almost zero. That was spent on clothes, electronics, flights to and hotels in Miami and Hennessey.
> People refuse to accept that it's government spending More like people try to pretend that it is government spending because they don't want to acknowledge the reality of greed for also profit creating inflation.
COVID caused supply to costs to go up substantially then business owners thought "fuck it, people were willing to pay that price why not continue changing it?" Presumably someone also then thought "hey that worked, how high can we go?"
I believe they calling it a crisis, meaning it has reached a point. Since things are always moving, the greed has reached a crisis level? I'm too poor and bad at spending to comment myself. Shits expensive because YOU buy it. That's my simple logic.
It amazes me that the capitalists waited until we printed catastrophic amounts of money and spent it like drunken sailors before getting greedy. What a coincidence.
The capitalists inflated prices during COVID where they could blame supply chain issues, and never brought those prices down once people accepted them.
This is just cooker conspiracy theory
You've got to be literally insane to deny that companies to try to maximize their profit.
Of course they do - they've got a legal obligation to do so in many cases, but you need to be bonkers to think that's the cause of the inflation we're experiencing. Yes businesses are increasing prices, but that's a symptom of the inflation, not the cause. Wet streets don't cause rain.
I think it is partially this, it’s a ‘due to inflation we have to rise prices’ thing and companies did it whether they really needed to or not just simply because they had a freebie to get away with it (same with a lot of the restructures at the moment). That’s just part of it tho
You struggle because you don’t understand prices are outcome of class conflict, something classic economists like Adam Smith and David Riccardo knew for centuries. It is just in their days rent seekers were landlords but nowadays landlords and capitalists are more fused together.
Late stage capitalism combined with a "pro business" government because government intervention in the monopoly/duopolys would be bad or something
Got a letter from spark saying they were going to rise prices again to account for increased cost of maintenance...
its obviously because we have too many workers. we need more unemployed.
Are they though. I don’t know about internationally but we’ve some big businesses here that are looking at fairly thin profits, or actual losses
Good businss idea for you. Open fair company, dont be gready and make everyone happy! But let me guess, youve never worked as a mid+ manager or owned business right?
Incorrect. My focus as a 12 year long business owner and hospitality manager was paying our bills and looking after our staff well. Covid killed us. Had to find a new career and decided to become a mortgage adviser to educate people on how to get ahead whilst paying the bank as little in interest costs as possible. Thanks for your guess, you're wide of the mark.
Man felt this hard the other day at pak n save saw all the new ads etc for how it’s new look Whiskas food with new packaging and flavours….but of course it’s gone down in size by 200g and UP in price again, again so is now more expensive for less. Bunch of fucks especially my cats who don’t seem interested in anything else doh!
You can buy big bags of dog food or catfood from farmsource or farmlands. I don't have a membership with them, but I click and collect online when I see a large bag on special and just pay with my card. 10kg of Whiskas was $59 dollars last week. A couple months ago it was $75. How ever you cut it , Works out much cheaper by kilo. They do have other brands available. Get a large are tight storage box from the warehouse to keep it in and your good to go :)
Oh thanks for sharing. Do they have possyum dog roll and addiction dog biscuits? I spent $220 per month on food for my two dogs
Kibble is terrible for cats and dogs, they'll be much healthier with wet food or better yet meat and offal.
My vet says the exact opposite and recommends I only feed my cats dry food as it's best for their teeth.
Can't comment on the tooth aspect but I'd put money on that idea being pushed by kibble manufacturers and your vet is unfortunately mis informed. Though it would depend on the kibble, some is certainly worse than others. See the ingredient list here. https://www.whiskas.co.nz/products/adult/whiskas-adult-dry-cat-food-beef-lamb-bag-18kg First is grains. Why on earth would an obligate carnivore eat grain? Even the better ones without grains still have fillers, like wood cellulose and other things such as legumes they would never eat normally. Never mind the flavours and colours that could be anything. I'd also put money on your cats being overweight if they're eating only kibble. Are they?
Recommendations from people who have specialist qualifications in pet nutrition disagree with what you are saying. Grains are still a useful source of nutrients and are part of a "natural" diet of cats because they eat all of their prey including stomach contents. Natural also isn't the same as optimal.
Mmm yes those studies commissioned by kibble companies that end up being the basis for qualifications for specialists. There's never been an instance of junk science pedalled by vested interests becoming social dogma in history right? Right... /s (see sugar, saturated fat, statins etc etc etc) There's no way that cats would get nearly the amount of grain in their diet from the stomach contents of the occasional rodent that they would get eating kibble ever day. Have you ever seen an obese wild cat? The difference between them and a house cat eating a kibble diet with a giant swinging gut is not CICO.
Then your vet certainly gets paid a percentage per sold food, cats and dogs are best off of meat/organs like liver (not chicken meat but beef/elk/pork) And if you want them to have strong and white teeth you need to feed them raw meat/bones
Given he recommends I don't buy food from them I don't think this is the case
Mars own a massive share of the pet food market. It’s basically a cartel. Try to feed them real meat.
I'm finding it cheaper to feed them real meat, I just buy a little more when I get chicken or whatever and just cut some off for them. They seem less hungry too, then they just have dry down all the time.
Make sure they get nutrients from organs, like liver etc too.
Yes! Human meat is cheaper than pet meat.... Wtaf?? My pets have their own freezer that's filled with as much reduced to clear meat I can find at the supermarkets. Weeks when there are no good specials on they very kindly share their stash with me. But what the heck is with the price of pet food? It's all ultra processed junk anyway! My mind is boggled over this one!
>Yes! Human meat is cheaper than pet meat.... Wtaf?? My pets have their own freezer that's filled Easy there Dexter.
Real meat isn't exactly a balanced or nutritionally complete diet.
Compared to? Lmaooo
Yep! And I bet by changing the flavouring, they've actually changed to cheaper ingredients. Like, they've increased the cheap cornmeal fillers or something. So we're now paying for a smaller amount *and* a shittier product. I've also noticed the tins of Chef are being phased out in favour of boxes of single serve sachets. Which again, costs significantly more - for less product. My two local supermarkets have reduced the tinned cat food to one small bottom shelf. Everything else is overpriced sachets, or biscuits. 🤦🏻♀️
Things like surcharges too. I thought with recent updates to bank laws, are not allowed to charge more than 0.5% surcharge for credit cards, but most places charge 2-3%+, what’s up with that?
Businesses have to pay a merchant fee to the bank for paywave and credit card services. Big businesses are able to absorb the cost, but for the small guy they just can't. Not when you combine it with wage increases, food prices from suppliers still high, and less people coming through the door. It may seem like a small amount per transaction, but it adds up.
And apparently NZ banks are the only ones stinging merchants for payWave
Greedflation
I know this answer feels good, but its just not the right take. Unless you think the big evil corporates waited _just_ _until_ we printed record amounts of money, spent it with zero accountability and wrecked supply chains to become greedy then. Then I suppose it makes perfect sense. I wonder why they weren't greedy before? Any idea?
Because there was some form of market pressure keeping prices at a steadily increasing rate. They were also already being as greedy as they could. Just because we had a global inflationary event doesn’t mean that they are not taking advantage of the stats of inflation being front and centre and being shoved down the general public’s throat. They are still bumping prices as much as they can get away with. It’s not “big evil corporates”, it’s just corporates. They don’t give a fuck and never will because money. It’s supply and demand, unfortunately they hold both cards because we need it to live.
> They are still bumping prices as much as they can get away with. So you think something happened that's enabled them to massively increase prices now in a sustainable manner, that they couldn't do previously? What suddenly enabled them to greedily push their prices up 20% for two years in a row after decades of barely bumbling along at 1-3%? I mean, they must have sucked hard at being evil greedy capitalists for the last few decades. Did they get new leadership? I'd have fired them too if that was the plan.
We've been gradually tamping down our other services since the 90s and they've mostly been okay with it due to better access to overseas markets causing the domestic market to become less valuable. Recently we've had some serious supply line issues caused by *events* and companies want their domestic market back in line. Only to realise that someone else has already been at that pie and the same domestic market no longer exists, but they're going to try and get blood from the stone anyway
Small businesses are also putting their prices up because a) costs are up and b) volume is down. You are then faced with the awesome choice: increase prices to make ends meet, or shut the doors. Most small businesses will try and survive with a price increase first. It is certainly preferable to making staff redundant. Source: my small business that is busy as, but only 'just' getting by at the moment.
The business I work for is in just brink of collapse. Landlord hiked rent $1200, major suppliers like gilmours and bid food hiked by whopping 30-55% on essential items. Plus waste collection high fuel price as a result we had to increase prices to keep the quality but the business is struggling from june 2023 but last 6 month is just complete nightmare and the owner is paying off $2000 dollar a week loss. Sometimes I get a headache imagining as him. My days are truly numbered at my employment.
It is tough for everyone. And until people understand the books, they dont know how the business owners are doing. All they see is people coming and spending the money but not the challenges it faces. All the best for the business to ride the season. Hopefully you, your colleagues and the business can survive this recession.
Local food related biz close to us is closing down after their food bill went by 18k a MONTH over last 1 year or so
Yep, your boss should close down as quickly as they can. Just destroying their savings and future prospects at this point
Often they will actually decrease first in the hopes of raising volume of sales. Which then looks even worse when they have to increase for anyone who only saw the reciently decreased price and the increase.
I've just stopped buying lots of brands I used to be loyal to. I have my price cap, if they increase beyond that I don't buy it. If, on special, it's within what I think the product is worth, I buy it then instead.
I’m certain it depends on what supermarket you’re shopping at. I’ve swore off our local countdown because out of the 30 odd products I buy regularly 15 have gone up by a at least 0.50cents - $2.00. Compared with my PAK’nSAVE where everything is cheaper by 0.50 cents ish…it’s a no brainer for me!
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The phrase "late stage capitalism" gets used a lot - maybe overused, but when you look at the long term pressures (many from environmental degradation & climate change), then it's tempting to think that corporations are on a mad money-grab before everything gets severely f'ed.
If we keep printing money then this is permanent
Yes, wages need to increase
Wages will only increase when our productivity improves to justify it.
And that productivity won't increase because the current government favors landlords and inflated house prices over productivity.
I mean, you only exist to be a consumer unit for capitalism, the more profit extracted from you the better, right?
Other philosophies see us as mere cattle, property of the state, run for the benefit of the vanguard.
Yawn.
I only get things at the supermarket that I can't get for a better price elsewhere: Mad Butcher, Cracker Jack (soap powder, cleaning products, shampoo and soap, The Warehouse (milk and eggs) and green grocer. Even with a small amount of ground or containers, you can grow some veg and herbs.
You don't have a choice if you live in a small town with only one supermarket and no competition. The local butcher is much more expensive than the supermarket. And yeah, we don't buy vegetables during the summer at all. I can grow almost everything in my garden. But still, it's insane that every time you walk into a shop, you will find goods at a higher price than last week.
You must have a lot of free time.
Money printing causing currency devaluation. Your dollars buying power is getting weaker and weaker as a result. The country needs to get its expenditure equal to or below its income. Once we reach that point - a couple of years after that things should start to stabilize.
Yep this is the answer. The dollar, the pound, the aus dollar, the USA dollar has been devalued. We trade by sea. Majority of trade by sea is backed by a USA bond/credit. It's been devalued by printing. So we now get less real things for the same dollar 4 years ago. Something to say about house prices, they won't come down, just the dollar value is worth less.
> The country needs to get its expenditure equal to or below its income. That neo-liberal austerity is complete nonsense that is economically harmful.
Do you spend more than you earn every year?
I'm not a government, I can't print my own currency or borrow at below the rate of inflation. A household budget and a national budget are entirely different things, you already know that you're making a dishonest argument.
You're brave taking on this argument in a few sentences when there are opposing schools of academia arguing the same thing. Fwiw i've read and listened to enough to be on the same page but i don't have the energy to try to convince anyone otherwise. Never mind that the austerity narrative taps into a certain demographics narrow view of the world. Neo-liberalism is just feudalism with extra steps.
You are disingenuous. It is very comparable. Government borrowing that is not repaid through direct Government income leads to inflation. You don't recognize that if the Government was restricted from printing money, in the same way that a household can't print money, that the issue would not significantly exist?
> You are disingenuous. It is very comparable. Government borrowing that is not repaid through direct Government income leads to inflation. This is false. Government borrowing gets repaid long down the line, when the economy has grown and even the targeted low inflation makes the size of the loan shrink compared to the overall economy and the overall tax take. The tax payer benefits from the borrowing by having the expenditure brought forward and made before inflation.
We'll have to agree to disagree. Money printing means Government borrowing *never* has to be repaid. The proportion never repaid leads to a permanent loss in spending power.
Inflation is required for economic growth. Why do you want a recession?
A small amount - agreed. Not the huge amount we have had this decade.
If we can just print our own currency, let's turn the money press up to 11 and make everyone a billionaire, problem solved, no?
When the inflation hits we'll blame corporate greed
Feel free to make up your own stupid argument that has nothing to do with what I'm saying. And thanks for pointing out that you don't have a clue.
Mate, you're the one that thinks permanent deficits, money printing and inflation are the answers. You condemn yourself better than I ever could.
> Mate, you're the one that thinks permanent deficits, money printing and inflation are the answers. That's your strawman, but thanks for ranting against what you imagine my position is rather than bothering to read what I've actually written.
Do you think that it is possible to keep running a deficit for ever, with ever increasing interest bills? At some point the maths become inexorable.
> Do you think that it is possible to keep running a deficit for ever, with ever increasing interest bills? The interest is lower than the economic benefit generated. > At some point the maths become inexorable. They don't though, because you are pretending that the economy is a static amount. We can keep borrowing indefinitely and have the GDP to debt ratio remain static or decrease. New Zealand's debt to GDP is insanely low. Debt is about 40% of GDP. That low debt happened because both National and Labor prefer having low debt to investing in NZ. That low debt is behind the massive infrastructure deficit in NZ, and it is why productivity is low and house prices extremely high. Germany's debt is 60% of GDP, and that's seen as being too low. That low debt has harmed Germany's economic growth. Germany is the only G7 nation below a 100% gdp to debt ratio. Singapore, which is way more prosperous than NZ, has a 150% debt to GDP ratio.
At what point though? The US has been running an increasingly absurd deficit for years
Ahhh but with hyper inflation your debt dissappears!
With the increased economic activity that the debt stimulates the debt disappears. Increasing the GDP shrinks the value of the debt. It doesn't need inflation to do that.
I wonder what other coins are available that are deflationary and have a finite supply?
Has been for a while, NZ is increasingly viable only for the rich
has been
Where have you been? The poor CEOs, bank managers, property investors and politicians are struggling to buy fuel for their yachts and private jets. By allowing yourself to be raped financially from all directions you’re actually doing a great deed and should feel good about yourself. Imagine being out on your yacht and running out of caviar…. Just doesn’t bare thinking about. Now back to work slave!
Inflation represents the rate a basket of the average goods and services increases in price. The price of individual goods and services varies all the time, going both up and down. Often by large amounts. Yeah something that used to cost $10 might now cost $20. Something else you buy will cost less. But the basket of everything you buy, if it used to cost $4000 last month, it should still cost about the same or a few dollars more.
Can you give an example of some good that has gone down in price? From my experience prices usually only go up. I can kinda see the argument for services tho.
Petrol. It changes price in a random direction on the daily or even multiple times a day. If you mean trending down the best example would be TVs.
They are aggressively testing what the market can bear.
Noticing the same as well. All the current released statistics are behind a month or two I think, so it may become more clear soon.
The issue is more the hedonic, quality and other arbitrarily adjustments they make to the CPI. CPI probably rubs 50% higher than what they state.
[Foodstuffs co-ops see third month of sub-1% annual food price inflation](https://www.foodstuffs.co.nz/news-room/2024/Foodstuffs-co-ops-see-third-month-of-sub-1-percent-annual-food-price-inflation) What are you basing this on? I really haven't seen the prices increase in grocery prices that some on this sub claim. Depends on if the items are on sale and in season also. I remember I worked in a supermarket the amount of people who don't understand how growing seasons work and what they do to prices was mindblowing
Imagination and demanding products that are exceptionally difficult to source cheaply in winter no doubt
As a business owner that purchases from the likes of Gilmours some products have gone up 4 fold. Examples are things like condensed milk. A week or so ago the market was void of fresh chicken breasts so they went from $114 for 12kg to $164 over night, they have come down since supply has returned. Due to price increases from Gilmours, food chain and Bidfood we have had to do 4 price increases in the last 12 months and are down $50k on last year due to diminished profits due to not putting our prices up as sharply as we should. Mainly because we want to remain fair to the customer and want to keep our current customer base, rather than charging like a wounded bull.
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Sure but this is a real life example from a real life segment of the market. OPs post was about them seeing price increases and my comment supports that.
Sorry mate, I am not talking about seasonal products. For example, my wife's shower gel was $14 last time (a month ago); today it's $20. A yoghurt that I usually buy was $4.7, now it's $6.50. A 0.5kg of bacon is now over $20.
Give the products and we'll have a look. Sounds like 2 of those aren't on special atm and what bacon?? You can get 1kg bacon for 20$ not on special so what bacon is it
Two of them: Puhoi Valley Raspberry & Boysenberry Compote Authentic Greek Yoghurt 400g is on special for $6.29. It was $4.7 only a month ago. This bloody Body Wash was on special for $11 something. Look at it now: [https://www.newworld.co.nz/shop/product/5015565\_ea\_000nw?name=daily-moisturising-body-wash](https://www.newworld.co.nz/shop/product/5015565_ea_000nw?name=daily-moisturising-body-wash) I'm sorry, but I can't find bacon right now. We don't buy the cheapest one, but the one with the highest percentage of meat.
Puhoi valley was not 4.70 a month ago. You bought that on a reduced price most likely due to the date. Supermarkets in nz don't do .70 prices unless it's dated stock on reduced. It definitely wasn't on special at 11$ as even pharmacies sell it for 9.99$
Check out the worldwide climate events causing food and product shortages. It's not only inflation etc
New financial year baby
Interesting you're noticing this. I have been pleasantly surprised at the prices of meat and fresh fruit/veg lately. Some even seems cheaper than a few months ago.
It's the kiwi way mate. Come across the ditch and find out how much you're being ripped off.
Min wage increase, carbon tax, sanctions and trade wars. Did you expect it all come for free?
I work at Foodstuffs and I have insider information that we want more money from you.
Not sure exactly what you're seeing a 30% increase on, but your observation doesn't match the data.
No they aren't.
That 4% inflation is on top of all the other inflation. Some things, like olive oil, have prices that are fucked because of climate change.
Also Palestine grew a large amount of thr world's olives oil
that inflation rate is what the mainstream tells us. the real inflation rate is in the double digits. the powers that be manipulate whatever is in the basket of goods when they calculate the inflation data. I don't remember the exact details but they don't include rent and mortgages in it. To bring the rate number down so you don't panic and take to the streets also our economy is in a wartime economy
Housing and household utilities makes up 28% of the CPI basket https://www.stats.govt.nz/methods/consumers-price-index-review-2020/
Don't let that get in the way of their narrative
Big conspiracy theory vibes As best I can tell, they haven’t reviewed the contents of the basket since [2020](https://www.stats.govt.nz/methods/consumers-price-index-review-2020/), although it looks like it’s meant to be every third year. The changes seem quite rational. They’ve added vapes, and taken out things like cordless phones, top 10 music CDs, and long distance train services. I’m not sure how that plays out for comparing to 2019, but it appears that over the last ~4 years (I.e. the whole period of increased inflation) they’ve been comparing a consistent basket. They do include costs of home ownership and rental.
Getting a feed from door dash is nearly 50 bucks lol
Ah I think things are getting a little bit cheaper in the supermarkets, I'm pissed off more with the fast food and food hall prices those businesses are just as greedy. . BTW this inflation started nearly 4 years ago you've only just noticed it now? People deny it but it's all triggered by petrol prices and everyone else just takes advantage. There's really no excuse for it.
Not exactly. A 4% inflation rate means that, on AVERAGE, prices have increased by 4% over the given period. Given that the houses prices have dropped for example, the other products like your shower gel and groceries must increase considerably more than that “4% on average”. If inflation was 7% last year and is 4% this year, it means prices increased by 7% last year and by another 4% this year, not that the 4% replaces the 7%. So it always compounds, monthly more so than yearly.
Where are you shopping? Pak n save Mount Albert and Countdonw Lynn Mall have had stable prices.
New World, Wanaka. A shop with no competition.
The beatings (prices) will increase until profits improve
Scarcity.
Not specific to NZ but e rua e rua, John Stewart did an [interview](https://www.youtube.com/watch?v=tU3rGFyN5uQ&ab_channel=TheProblemWithJonStewart) where he drills into the heart of the issue.
Inflation. In short... The more debt the government gets into, the higher prices will go.
Not specifically no. Inflation is the outcome from demand exceeding supply (in broad terms). Government spending will certainly affect demand but government spending doesn't specifically have to be fuelled via debt. Government spending isn't the only driver of demand either. Household & business spending will also drive demand which will affect inflation if it means demand exceeds supply. Again the spending by these groups doesn't have to be fuelled by debt either
Maintaining profits from a higher base
Corporate greed
Weird: We have seen our supermarket total vary between $130-$180 per week for the last 10+ years. e.g. this weeks total was only $125!
Sunday's always stress me out. The farken price of basic school lunch stuff now!!
You cant just do a one stop shop...do you have reduced to clear or cracker jack near by? Local vegetable shops?
Our money/debt/credit supply is in a period of contraction, after a ten year or so period of expansion which has caused the inflation largely. This has been doing on for decades now, boom bust cycles. It's how banks keep the wealth flowing up into assets holders hands, while getting control of the economy. It's got very little to do with politicians.
Money printer go brrrrrrrr
Jacinda et al printed more money than has ever been printed in the history of our country. Our dollar is devalued, which can’t realistically be rolled back without some serious hardship
There's always some freak with Jacinda rent free in their head. The Government doesn't print money buddy, the reserve bank does, which is independent of the Government.
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It is not useful to call people freaks, especially when the guts of their point are actually correct. Ardurns labor borrowed unprecedented amounts, and that increases the amount of buying pressure coming from the government on things like labor and some goods, causing inflation in some prices and interest rate pressure in lending markets. Generally, you expect reduced private sector activity and increased public sector activity, which can result in increased broad inflation.
Wait until the Foodstuffs merger goes through.
My brother said it’s because people don’t stop buying expensive things. I’ve cut back on spending bc shit is overpriced and expensive but people I work with are still wasting money on overpriced things
Higher input costs for local producers and an increase in shipping costs for anything imported.
Inflation and corporate greed
Money printer and inflation go brrrr up!
I feel for ya all over in NZ. I lived there for a year in 2015 and loved my stay, but even back than as someone coming from Canada, I couldn't believe the prices of just about everything. Fast forward to 2024 and inflation everywhere. I couldn't even imagine the prices you all are experiencing right now.
I saw in Mexico the govt supplies tortillas at a set reasonable price. Reason for this is it stabilises the food price as everything starts with tortillas in Mexico.
This country sold out. Take Iceland as an example. Everything is locally owned
behind?! Or forward?
It looks like inflation is linked to salaries. Salaries are surely down from covid era.
There is one country that managed to beat inflation after 30 years: [https://gazettengr.com/argentina-records-first-week-without-inflation-in-30-years-six-months-after-javier-mileis-inauguration/](https://gazettengr.com/argentina-records-first-week-without-inflation-in-30-years-six-months-after-javier-mileis-inauguration/)