Average household income stays just above inflation
5:00AM Saturday December 01, 2007
The average annual income of New Zealand households has increased only slightly faster than the rate of inflation during the past three years, official figures show.
Statistics New Zealand's three-yearly household economic survey puts average annual household income at $67,973 in 2006/07, up 10.2 per cent from $61,668 in 2003/04.
In comparison, a Statistics NZ official said the consumer price index had increased 9.1 per cent between the year ending in the June 2004 quarter and the year ending in the June 2007 quarter. But while the average income figure has done little better than inflation, the wage and salaries component of it has risen nearly twice as fast, up 17.7 per cent to $50,235.
Income from self-employment was down 24.5 per cent to $4213, from investments it was up 17.4 per cent to $3057, superannuation and war pensions rose 1.6 per cent to $3970, and government benefits were up 5.7 per cent to $3740.
The median annual household income was up 14.3 per cent to $55,976. The median figure means half of households receive more and half receive less.
More
here .