Record prices for gold and oil are set to hit New Zealand consumers in the pocket.
The price of gold broke through the $US1000 an ounce mark for the first time, as jitters send investors flocking.
And life is seems, is getting a lot more expensive as a consequence.
Ironically it is overseas demand for the things we are good at producing that makes the dairy aisle hardest on the purse.
Two litres of Milk is 20% more expensive, than this time last year.
It was a $1.85 last year, now it sells for $2.22.
Cheese is up by 60%, and Butter 92% dearer.
Your total food bill works out to be 9% more expensive than 12 months ago.
And ASB's Chief Economist Nick Tuffley, believes life will only get dearer.
"We are going to continue over the next couple of years to face high inflation, food prices, energy prices such as petrol and electricity," he says.
