Annual inflation jumps the most in nearly 10 years

Annual inflation jumps the most in nearly 10 years
Higher prices for building houses reflect both supply-chain problems and high demand. (Image: Deposit Photos)
Rebecca Howard
The biggest increase in annual inflation in nearly a decade will stoke calls for higher interest rates.The CPI increased 1.3% in the June quarter, bringing the annual rate of inflation to 3.3%.Inflation was driven by higher prices for new housing and a 16.1% lift in annual petrol prices, Stats NZ said.  Quarterly inflation was 1.3%, also the highest in over a decade.The strong read will add to pressure on the central bank to begin lifting rates, with economists now forecasting it will move as early as next month.Earlier this week the centr...

More Economy

Business confidence nixes July RBNZ cut
Economy

Business confidence nixes July RBNZ cut

Economists say July is a pause, not the end point.

Monthly CPI tech takes Stats NZ into the future
Economy

Monthly CPI tech takes Stats NZ into the future

Budget funding for new inflation-reporting tech is a giant leap forward, agency says.

Maria Slade 27 Jun 2025
Corporates think NZ 's on the up: Forsyth Barr
Primary Sector

Corporates think NZ 's on the up: Forsyth Barr

The Pulse of NZ Business survey found construction and retail continue to lag.

Gregor Thompson 25 Jun 2025