The economy
Sir, — Under National inflation has reached a six monthly record rate of 9.1 per cent. This has happened under a government which on last November was claiming it could get inflation under control. History is repeating itself. Before the present National leader took control of the economy in 1967 New Zealand had an inflation rate of 4.2 per cent. However, under his tender control it soared to around 10 per cent in 1970 and 1971, giving New Zealand one of the highest rates in the Western world. Under a Labour Administration it was amongst the lowest, but once again New Zealand is standing out as a highinflation country. The price freeze is no solution, and next January will see a further round of price increases. — Yours, etc., B. D. MEECHIN. September 15, 1976.
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Press, 17 September 1976, Page 12
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135The economy Press, 17 September 1976, Page 12
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