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And at a seafood shop in Henderson a dollar would not fetch much, but at least you won’t walk away empty handed.
The shop assistant told First Up $1 could buy “a couple mussels” or “a very small piece of gurnard”.
Next stop was the local bakery. There was nothing available for $1.
The man behind the counter said the cheapest item he had was $2. “I would have to be very generous to offer you something for a dollar.”
But asking nicely paid off.
Small bread rolls were priced at six for $3 and he was happy to sell a single one for $1.
A Snickers bar on special at a supermarket for $1. Photo / Matthew Hutching, RNZ
Nearby at Zeki’s Cafe, a quick scan of the food cabinet showed everything cost well above a dollar.
Economist Shamubeel Eaqub said the price of butter was an example of the effects of inflation.
“A dollar just doesn’t go as far anymore.
“If you think back to 40 years ago, a dollar would buy a block of butter; 20 years ago, you’d get half a block; 10 years ago, you’d get a quarter of a block. Now you’re going to get 15% of a block.”
DVDs at Dollar Dealers selling for $1 each. Photo / Mahvash Ikram, RNZ
The New Zealand $1 coin was introduced in 1991, and since then, it has halved in value.
“Roughly speaking, it’d be worth $2 you’d be getting twice as much stuff for your money back then than you do today,” Eaqub said.
But don’t underestimate the power of the gold coin just yet.
According to a shop assistant at Dollar Dealers, it could be exchanged for something priceless.
A shelf in one corner of the shop was lined with hundreds of DVDs, selling for $1 each. “We get customers that just come in for our DVDs on a daily basis.”
Of course, the supermarket was a great source of $1 deals. A 400g tin of tomatoes was only 92c when First Up visited.
