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Economic expert thinks homeowners are disproportionately feeling the pain of cost of living crisis

Publish Date
Fri, 28 Jul 2023, 8:41am
(Photo / Getty Images)
(Photo / Getty Images)

Economic expert thinks homeowners are disproportionately feeling the pain of cost of living crisis

Publish Date
Fri, 28 Jul 2023, 8:41am

An economic expert says homeowners are disproportionately feeling the pain of the cost of living crisis.

Latest figures from Stats NZ show the average household's cost of living increased 7.2%in the year to June.

The official inflation rate for the period was six percent, but interest payments went up 28%.

New Zealand Initiative Executive Director Oliver Hartwich told Mike Hosking there's been a difference in the cost rises on average between renters and homeowners.

He says the interest rates increase means if someone is renting they will be facing lesser rises in costs.

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