New Zealand is the most expensive country in the world for newborns, according to a new report.
The country’s baby formula, which costs up to $6.50 per litre, has been widely used by women in the developing world.
But the report from the International Institute for Sustainable Development found that the cost of developing the formula has increased dramatically.
The average price of the formula was $4.55 per litres in 2010, according a report released Thursday.
That’s nearly five times the average price for a litre of milk in the developed world.
The report also found that New Zealand was one of only three countries where the price of a litres of milk has risen more than 10 per cent a year in the past decade.
“In New Zealand, the cost has gone up by about $1,000 per litter since 2010, but this is mostly due to the importation of infant formula from the U.S.,” said the report’s co-author, Michael Stuck, an economist with the UN Development Program.
“We see this as an economic and environmental disaster in a very vulnerable population.”
While the report was written in 2010 and is based on data from 2011, the country’s infant formula costs are up by $1.4 billion since then.
New Zealand has had an average annual inflation rate of 3.3 per cent for the past five years.
Stuck said the cost for the formula is not reflective of a healthy economy.
“There is not a lot of evidence to suggest that the inflation is really sustainable,” he said.
Stuck is also concerned about the country developing a strong economy. “
The costs are not being met with the level of expenditure that is required to support a healthy society.”
Stuck is also concerned about the country developing a strong economy.
In the past year, New Zealand experienced a record number of hospital admissions.
“If you are looking at a $2,000 infant formula that is now being used by thousands of women, that is not sustainable,” Stuck told CBC News.
“And we have a very small number of babies, and we are very vulnerable to what happens in the next few years.”
The report was commissioned by the Australian Health Alliance and released by the New Zealand Association of Hospitals and Gynaecologists.