Image: RNZNew Zealand is an expensive country, Reserve Bank chief economist Paul Conway says, with many products priced well above the OECD average. The price of housing services and utilities in New Zealand is also assessed as being the most expensive in the OECD." Real per capita income in New Zealand was below the OECD average, he noted. Further, productivity growth in the New Zealand economy fell significantly following the global financial crisis and has been negative in the wake of the pandemic. "Improving the purchasing power of New Zealand households requires improved productivity.

Source: Otago Daily Times March 25, 2026 05:55 UTC