Employer Bulletin | 05 August

The cost of living for the average New Zealand household increased 5.4 percent in the 12 months to the June 2024 quarter, according to figures released by Stats NZ.

The 5.4 percent increase, measured by the household living-costs price indexes (HLPIs), follows a 6.2 percent increase in the 12 months to the March 2024 quarter. The most recent high was 8.2 percent recorded in the 12 months to the December 2022 quarter.

Meanwhile, inflation – as measured by the consumers price index (CPI) – was 3.3 percent in the 12 months to the June 2024 quarter, following a 4.0 percent increase in the 12 months to the March 2024 quarter. The most recent high was 7.3 percent recorded in the 12 months to the June 2022 quarter.

Each quarter, the HLPIs measure how inflation affects 13 different household groups, plus an all households group, also referred to as the average household. In contrast, the CPI measures how inflation affects New Zealand as a whole. 

“Mortgage interest payments remain high, and continue to make a significant contribution to living costs for many households,” consumer prices manager James Mitchell said. 
 

In today’s Bulletin

• Miscommunication and clash of styles leads to unjustified dismissal
• Interim injunction on a restraint of trade is declined
• Redundancy process flaws lead to unjustified dismissal
• Employer breaches multiple employment obligations
• Recorded conversations can be admissible in employment disputes
• Eight news updates of interest for employers including: Promised cost of living relief is here; Household living costs increase 5.4 percent; Transparent investment reporting to drive fiscal discipline; Government supports 132 events to drive regional tourism; Thousands more young people to get job coaching; Regulatory review into agricultural and horticultural products now underway; Applications for new innovation fund open today; and Government lifts loan affordability assessment rules.
• Five Bills open for submission