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Inflation Rates 101
Increased inflation basically means that your dollar isn't worth as much as it was. The Reserve Bank likes to see only a gradual percentage increase of 2% per annum, currently, it's a lot higher than that. In fact the highest it's been for a long time.
It's due to many things, but some major factors are:
- Fuel prices. Those fuel costs are passed on to the consumer in the price of food, transportation and EVERYTHING else.
- The cost of housing, from new builds to rents, and exacerbated by the shortage of materials.
- All made worse from the fallout of Covid the war in Ukraine and a tight labour market.
- One way to combat inflation which can affect almost all of us is the increase in interest rates - watch this space!
Mark Jones, Hallam Jones
Want to find out more? Simply give Mark Jones a call on 0800 404 202 or send him a message.
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