Govt stokes inflationary pressure
"Inflation is still under
control but no thanks to the Government," Labour finance
spokesperson Michael Cullen said today.
"The CPI data for
the June quarter, excluding credit services, show a 0.5
percent rise taking the annual figure to 1.2 percent, up
from 1 percent in March. Although relatively modest, the
movement was higher than market expectations.
"And much of
it can be sheeted back directly to Government policy. Big
contributors were the recent sharp increases in car
registration and drivers' licence fees and the round of
power price rises which followed the Government's
"These influences are unhelpful given
emerging inflationary pressures in the housing market and
the likely impact of today's increase in petrol prices," Dr
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