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  1. #421
    Veteran novice
    Join Date
    Jun 2007
    , , .


    You're not alone in questioning the validity of the CPI, the subject's been debated over the years in other threads on this site. The problem has always been in defining "consumers" then in deciding which items should be included or dropped and finally in what the respective weightings should be. All very subjective.

    Incidentally, we seem to be straying from the subject of this thread - perhaps CPI deserves its own.

  2. #422
    Permanent Newbie
    Join Date
    Mar 2010


    Macduffy the thread title has inflation and deflation in it and I don't like to create new threads for my rambling as it probably adds little to the site.

    Anyway OCR at 1.75% till at least 2020. Inflation rate 1.85% annually over the last two years. Still well shy of the 3% top of the range required. Although housing increased 8.55% annually over the last two years.

    I haven't followed the latest strikes or have details about the demands but anyone on a wage who isn't getting a 1-3% pay rise every year is getting screwed if the reserve bank has an inflation target of 1-3% wages need to rise by the same amount annually to maintain your standard of living. More if you want to own a house as these have increased substantially more and housing costs possibly would make up one third to half of lower and middle income families budgets.

  3. #423
    FEAR n GREED JBmurc's Avatar
    Join Date
    Sep 2002
    Central Otago


    Quote Originally Posted by Aaron View Post
    It might just be me on this thread but I am not the only one who thinks CPI statistics are bull**** for the average NZer. Although not quite sure what his conclusion is at the end as its a bit vague. Possibly he is pointing out a problem then concluding that wages should not rise or it will upset our current wonderful system I'm not sure.

    My conclusion is that as long as you have capital(that isn't taxed) and a system designed for inflation we eventually create a divide between the rich and poor that becomes too difficult to breach. Like royalty, wealth might become a birth right. A bit early with the predictions but we seem to be progressing this way.
    Yes then you get a Socialist Govt in power than increases Taxes and puts even more strain on a the corrupt fractional banking system..

    I laugh when our central bank comes out with no increases in core rates of 1.75% till 2020 when the US wants to see 3%+ by then ...Maybe are RBNZ thinks the tail wags the dog
    People don't have ideas, ideas have people


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