New Zealand’s inflation
New Zealand inflation is experiencing its highest rates in over 30 years currently sitting at 6%, and these price increases are widespread across many industries. And it doesn’t stop in New Zealand. Many countries are experiencing their highest inflation rates in decades due to recent global events. New Zealand’s inflation is higher than some other nations in the OECD due to our location for international transportation and also our government’s methods of stimulus to the economy of spending or large capital infrastructure projects and social services spending.
Global events spark global inflation
The increase of extreme events happening around the world creates more demand for the supply. “Prices will rise if there is more money chasing fewer goods and services. Inflation is on the rise globally due to fiscal and monetary policies put in place to cushion the economic impacts of Covid, and supply chain problems restricting the production and distribution of many goods.” Says Stuff NZ.
Why are there price increases in products provided by Azwood?
Azwood has continued to experience rising expenses in freight and fuel (FAF), road user charges (RUC), diesel fuel prices, and ongoing raw material costs. In today's inflationary environment, it's essential for us to maintain a consistent margin on all our products.
This genuine need for ongoing price reviews has resulted in a price adjustment and review of our pricing structure across our product range. With this, we’ve been advised to review our pricing every quarter for the foreseeable future to keep up with supply and demand, and to be able to continue to supply our customers and partners with our quality products and services.
It is good practice for all businesses to manage risk in an inflationary environment to review prices regularly to ensure they are sustainable for the long term.
Get in touch
The team at Azwood absolutely value your support, and we are committed to keeping you informed of the company’s latest developments. Feel free to contact us if you have further questions.Contact out team