New Zealand has halved prices for public transport in response to soaring fuel costs sparked by the war in Ukraine.
Its Prime Minister Jacinda Ardern made the call saying the “global energy crisis has quickly become acute”. However, her government has been criticised for the rising cost of living even before the war started, with inflation hitting the islands at a three-decade high at the end of 2021.
“We cannot control the war in Ukraine nor the continued volatility of fuel prices but we can take steps to reduce the impact on New Zealand families.”
According to the Guardian, New Zealand also cut petrol excise duties and road user charges by 25c per litre, to further ease pressure on consumers.
This comes after Russia’s invasion of Ukraine sent the price of oil and gas spiralling.
The Bank of England’s is predicted to raise interest rates this week, with inflation likely to exceed seven per cent.