Wellington, New Zealand said today it is extending the duration of cuts in fuel excise tax, road user charges and public transport fares by five months until the end of January.

“There’s no easy fix for the cost of living, but we’re taking a range of actions to ease the pressure on families,” Finance Minister Grant Robertson said in a statement.

“We want Kiwis to have some certainty over the coming months in the face of volatile prices at the pump,” he added.

Petrol prices in New Zealand, like elsewhere, have risen sharply since Russia’s attack on Ukraine started in February, contributing to significant inflation. Food prices rose 1.2% in June, while they rose 6.6% from the same month last year.

Families in New Zealand are struggling with higher living costs amid strong inflationary pressures.

The government in March cut the fuel excise tax by 25 cents a liter and road user charges – a charge levied on diesel vehicle users – by as much for three months. The temporary measure was extended again in May until mid-August, the CNBC news reported.

Source: Oman News Agency