Cost of living, income loss key worries: survey

AUCKLAND: A new survey shows New Zealanders are concerned about inflation and the increasing cost of living, coupled with a potential decrease in income, in the year ahead.

Insights from consumer intelligence firm Toluna, which surveyed more than 500 New Zealanders to gauge spending confidence and financial security in September, show inflation and the increasing cost of living are the biggest concerns among people in this country, marginally second to fears of an economic recession.

Looking at financial concerns over the next six to 12 months, 85% of people surveyed said they were concerned about inflation and the increasing cost of living, while 63% said they were concerned about a decrease in income.

About 86% of those surveyed said they were concerned about an economic recession.

Less than half of those surveyed (45%) said they were concerned about being unemployed, while 63% said they were concerned about losing money or capital over the next six to 12 months.

Society becoming ‘‘more selfish’’, the health system being overloaded, further lockdowns and government support not being available were among other concerns.

One in four respondents was not feeling financially secure.

Compared with six months ago, 29% of people said their financial situation was worse, while 58% said it was the same, the survey found.

Toluna Australia and New Zealand business director Stephen Walker said the research showed New Zealanders were feeling cautious about the outlook over the next six to 12 months, and were generally were less positive than their Australian counterparts. — The New Zealand Herald