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Pensioners Bear Brunt of Rising Costs | Auckland News
Pensioners are bearing the brunt of inflation, with their annual rate hitting 4.5%—higher than both beneficiaries and the general public. Skyrocketing electricity costs (up 12%) and soaring council rates (up 8.8%) are crushing fixed incomes, while petrol prices add further strain. Many retirees, reliant solely on New Zealand Superannuation, are forced to cut back on meals, risking their health, and some are turning to food banks. Unlike younger households benefiting from falling mortgage rates, pensioners often own homes outright, missing out on that relief while still paying rising property…
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