When running for election in 2023, National's key promise was simple: "we will lower the cost of living". They've repeated that mantra every day since. Last week in question time, they were gloating about "lowering inflation" in a desperate effort to bat away the regime's terrible record on unemployment and economic growth. So how's that working out for them? Badly:
Inflation has edged to a 15-month-high on the back of higher rents, rates, electricity, and food, touching the top of the Reserve Bank's target band but unlikely to prevent further rate cuts.In other news, rent is unaffordable, butter is unaffordable, meat has become unaffordable, while the regime tries to suppress wages to keep profits high for its donors and cronies. No wonder people are angry!Stats NZ said the consumer price index rose 1.0 percent in the three months ended September, pushing the annual rose to 3.0 percent from 2.7 percent, the highest since June last year.
The 11.3 percent rise in electricity prices was the single biggest contributor to the annual increase.
"Annual electricity increases are at their highest since the late 1980s, when there were several major reforms in the electricity market," Stats NZ senior manager of prices Nicola Growden said.
This regime is a failure on its own terms. They set themselves a simple target, and they blew it - ruining countless lives in the process. The sooner we kick them out on their arses, the better.
