@maori.randi2: Stagflation is when the economy struggles with high prices, slow growth, and job losses all at once. Because of this, many Kiwis stopped spending big during Christmas and Boxing Day. Here’s why: Things cost more: Inflation makes everyday items expensive, so there’s less money left for gifts and sales. Worried about the future: Slow growth and job uncertainty make people save instead of spend. Money doesn’t stretch as far: High prices mean discounts don’t feel like a good deal anymore. Focus on essentials: Families are prioritizing food, bills, and housing over luxuries. Debt is harder to manage: Rising interest rates make loans and mortgages more expensive, leaving even less for extras. Basically, with everything costing more and the economy feeling shaky, people are cutting back on non-essentials to stay financially safe. New Zealand is officially in a recession, with GDP shrinking yet again. The economy is nothing short of a disaster, and countless Kiwis are fleeing the country, driven away by stagnant wages and a crushing cost-of-living crisis. New Zealand has earned the grim title of being one of the world’s most expensive countries to live in. To make matters worse, this recession is marked by stagflation—a toxic combination of economic stagnation and soaring inflation. It’s hard to find hope when the economic landscape is so unforgiving, with no clear sign of relief on the horizon.

Maori Randi2

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Region: NZ

Thursday 19 December 2024 06:46:09 GMT