Podcasts Other The Mike Hosking Breakfast Oliver Hartwich: Economic expert says homeowners are disproportionately feeling cost of living crisis pain

Oliver Hartwich: Economic expert says homeowners are disproportionately feeling cost of living crisis pain

Published: July 27, 2023, 8:41 p.m.

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

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

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

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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.

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

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