Inflation shocker, thief on the loose. This week saw the release of inflation data for the September quarter and it was a shocker. Inflation is an insidious ‘thief in your wallet’, to quote a former Reserve Bank Deputy Governor, eroding purchasing power and savings and distorting decisions on spending and investment. The thief is becoming […]
Economic Week – 15 October
by Nick Clark, Manager General Policy Government finances better than expected The Government’s accounts for the last financial year are out and they show a lower deficit, higher tax take, and lower net debt than forecast in Budget 2021. Core Crown tax revenue for the year ended 30 June 2021 amounted to $97.98 billion, $6.44 […]
Economic Week – October 8
OCR increased. After holding off in August, the Reserve Bank did what it had been widely expected to do, this week lifting the Official Cash Rate from 0.25% to 0.50%. This was the first OCR increase in more than seven years. The Reserve Bank had to strike a balance between the economic hit caused by […]
Return to FPAs spells disruption, workplace inflexibility
By Nick Clark, Federated Farmers Manager General Policy OPINION: As a decade, the 1970s would not go down as one of the better ones. A time of garish wallpaper, loud shirts, ridiculous hairstyles, and carless days, it was also a time of economic stress and decline. Rampant inflation, periods of recession, ballooning unemployment, and mounting […]
Supermarket suppliers need a fairer deal
By Nick Clark, Federated Farmers Manager General Policy With the Commerce Commission’s market study into the retail grocery sector drawing to its conclusion, Federated Farmers is calling for a fairer deal for suppliers. As a representative of food producers (and consumers), Federated Farmers is keen to ensure that the retail grocery sector is competitive. It’s […]
Economic Week – September 10
Commodity prices slip. The ANZ Commodity Price Index was down again in August but it’s still well ahead of the same time last year and remains near its record high set in June. The World Price Index was down 1.6% in August compared to July, following a 1.7% decline over the previous month. The Index […]
Suppliers need a fairer deal
With the Commerce Commission’s market study into the retail grocery sector drawing to its conclusion, Federated Farmers is calling for a fairer deal for suppliers. As a representative of food producers (and consumers), Federated Farmers is keen to ensure that the retail grocery sector is competitive. It’s concerning but perhaps not surprising that the Commission […]
Economic Week – August 13
Farmers have done well but outlook uncertain. The results are out for Federated Farmers’ July 2021 New Season Farm Confidence Survey. Most farmers were doing well due to good market prices but they’re uncertain about the economic outlook and have major concerns about labour shortages and the impact of government policy and regulation. There were […]
Economic Week – August 6
Have commodities peaked? Having posted record highs in recent months, commodity prices slipped in July. The ANZ World Commodity Price Index was down 1.4% compared to June. Dairy was the main downward influence, with its prices down 3.4% for the month. Meat and fibre prices were up 0.6%, with higher prices for lamb and wool […]
Economic Week – July 30
Supermarkets under the spotlight. The Commerce Commission this week released a hard-hitting draft report on competition in the retail grocery sector, with supermarkets not coming out of it well. The Commission found problems and they’re mainly with the structure of the market. In competitive terms the major retailers, Woolworths NZ and Foodstuffs, are a duopoly […]