Ipsos Global Inflation Monitor - NZ edition, November 2023

In this issue, we see the number of people who think their disposable income and standard of living will rise outnumber those who think it is going to fall over the next year. The first time this has happened. We have also recorded the lowest figure across all five waves for those who think the rate of inflation will increase in 2024, highlighting that we are perhaps over the worst of rising prices. While people’s outlook for the future may be improving, their current financial situation is not looking any better than it was in April 2023. Twenty three per cent say they are finding it financially difficult.  

In terms of what’s driving inflation, the global economy and interest rates are still perceived as the biggest influences. However, immigration and workers demanding pay rises are beginning to be seen as more and more of a factor.

In a new series of questions developed for this issue, we also look at a topic which has been generating a lot of headlines: shrinkflation.