How much extra money Kiwis need per week to cover rising costs

The rising costs of living are causing households’ budgets to be stretched, Newshub says, but ASB economists are warning Kiwis will need to find an extra $110 per week to keep up with soaring costs over the next 12 months. This comes as annual inflation rose to 7.3% in the June quarter, the largest jump in 32 years.However, according to June income figures from StatsNZ, average household incomes rose by close to 6% and wage and salary earners registered an 8.7% increase in weekly gross income.