New Zealand government to boost financial support for 1.4 million people

FILE PHOTO: Chris Hipkins speaks to members of the media, after being confirmed as the only nomination to replace Jacinda Ardern as leader of the Labour Party, outside New Zealand's parliament in Wellington, New Zealand January 21 2023. REUTERS/Lucy Craymer

WELLINGTON (Reuters) - The New Zealand government is boosting financial support for around 1.4 million citizens as it tries to offset three-decade high inflation ahead of the country's election later this year.

Inflation is running at a near three decade high of 7.2% and is increasingly becoming the key political issue ahead of the election in October, which polls indicate will be tightly contested.