Of the 13 different household groups measured in the household living-costs price indexes (HLPIs), inflation in the September 2021 quarter was highest for superannuitant households, mainly due to higher prices for food, housing and household utilities, and transport, Stats NZ said today.
Inflation for the superannuitant household group was 2.2 percent in the September 2021 quarter, compared with 1.5 percent for beneficiary households, which experienced the lowest inflation. Each quarter, the HLPIs calculate how inflation affects 13 different household groups.
Food inflation for superannuitants was 3.3 percent in the September 2021 quarter, compared with 2.7 percent for the all households group, and 2.4 percent for beneficiary households.
The all households group represents all private New Zealand-resident households.
The most recent consumers price index (CPI) calculated inflation to be 2.2 percent in the September 2021 quarter , compared with 1.8 percent for all households in the HLPIs. A key use of the CPI is monetary policy, while the focus of HLPIs is to provide insight into the cost of living for different household groups.
"Superannuitants typically spend a larger proportion of their expenditure on local authority rates and fruit and vegetables, which are some of the key drivers for this quarter," consumer prices manager Matthew Stanfield said.
Fruit and vegetable inflation was 12 percent for superannuitant households in the September 2021 quarter, compared with 11 percent for the all households group.
In the September 2021 quarter, local authority rates and payments rose 7.4 percent for superannuitant households.
"More superannuitants tend to own their own homes, so this group is most affected by higher council rates than other groups who may be more likely to rent," Mr Stansfield said.
| Local authority rates and payments | Fruit and vegetables | |
| Superannuitant | 7.1 | 3.6 |
| Beneficiary | 2.7 | 2.6 |
| Māori | 2.7 | 2.2 |
| Lowest expenditure group | 6.8 | 3.3 |
| Highest expenditure group | 3.1 | 2.4 |
| All households | 4.1 | 2.8 |
Beneficiary households experienced inflation of 1.5 percent in the September 2021 quarter, the lowest out of all 13 household groups.
"Beneficiary households typically spend a smaller proportion of their expenditure on petrol, fruit and vegetables, and local authority rates and payments, which are key drivers for this quarter," Mr Stansfield said.
Inflation up for Māori households
Māori households experienced inflation of 1.8 percent in the September 2021 quarter, the same movement as the all households group, also at 1.8 percent. The rise for Māori households was mainly influenced by rising prices for transport (up 4.2 percent), food (up 2.6 percent), and housing and household utilities (up 1.4 percent).
