The economy is in focus as the election approaches

The election campaign will soon end, but not before we learn more about the country’s economy. 1News business correspondent Katie Bradford sets the stage for next week as voters head to the polls.

It was an uninspiring choice at times. It’s tough out there, whether you’re in the “squeezed middle” or struggling with cost of living because you can’t come up with money for daycare, doctor, or, God forbid, dentist bills.

Big ideas like introducing a wealth tax were scrapped by Labor early on, and National fell into its own mathematical mess – otherwise known as its tax plan.

So the big promises became a few dollars saved at the supermarket with GST-free fruit and vegetables, or simply 3,000 families receiving National’s much-vaunted $250 every two weeks. And it’s all because of the dreaded word “inflation.”

As the country heads to the polls, some data will be released on Thursday and Friday that will provide insight into the direction of inflation.

The big problem is food prices.

The most recent annual increase was 8.9%, down from highs of over 12%.

Electronic spending data released on Friday will also show whether people are spending less as inflationary pressures intensify.

But other than that, we just have to wait and see. While many voters are desperate to vote or desperately want the election to be over, many other areas of the economy are on hold.

We saw it last week when the Reserve Bank kept the official policy rate stable, with the election a factor in that decision.

Reserve Bank of New Zealand (file photo). (Source: 1News)

Home buyers and sellers have been waiting to see who wins and what it will mean for the property market, with the general expectation that a nationally-led government will provide a revival in the market. The stock market is also likely to be in a kind of holding pattern.

But for those desperate for business news, it comes just two days after the election. Whoever forms a government – or tries to form one – will know on Tuesday next week how big the wave of inflation they have to fight.

This is when the Consumer Price Index, our main measure of inflation, is released. The downward trend is likely to continue.

For those who still can’t afford to go to the dentist, this wouldn’t matter.