RBNZ figures present bank card billings dropped a seasonally-adjusted 5.8% in August

RBNZ figures present bank card billings dropped a seasonally-adjusted 5.8% in August

From fintechzoom.com

Down however undoubtedly not out could be one interpretation of the newest bank card spending figures for the month of August. Reserve Bank figures present bank card billings in New Zealand dropped a seasonally-adjusted 5.8% in August as Auckland went into stage Three lockdown and the remainder of the nation stage 2. The billings for the month had been somewhat underneath $3.6 billion, which was $485 million lower than on the identical time final yr – however the newest month’s figures in fact had New Zealand’s largest metropolis in a ‘lockdown lite’ from August 12 onwards – which suggests customers are ... (full story)

Everyone expected inflation to rise with the coronavirus, but I said no. Purchasing power is declining, where does inflation come from?

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