Thursday, July 17, 2014

A century of data on consumer prices within New Zealand has been compiled, showing a steady increase in costs.

Statistics New Zealand has been measuring consumer prices for 100 years, and in that time they've risen by 7500%.

The goods and services measured in the consumers price index have also changed markedly, reflecting changes in society.

Treacle and tripe used to be mainstays of the index, before washing machines, televisions and computers were introduced.

Goods and services worth one pound in 1914 would cost about $150 today.

Over the last hundred years annual inflation has averaged 4.4%, but it's varied across the decades.

Items for sale in Dunedin