Annual inflation now at 3.3%

Annual inflation now at 3.3%
(Image: Getty)
Rebecca Howard
Annual inflation is now just above the Reserve Bank of New Zealand's target range. NZ's Consumers Price Index (CPI) rose 3.3% in the 12 months to the June quarter, according to figures released by Stats NZ on Wednesday.The lift follows a 4% increase in the 12 months to the March quarter.The Reserve Bank of NZ (RBNZ) is mandated to keep annual inflation at 1% to 3%. "The 3.3% annual price increase is below what was seen during the peak in 2022 and is similar to 3 years ago,” Stats NZ's consumer prices senior mana...

More Economy

August rate cut still on the cards
Economy

August rate cut still on the cards

Annual inflation increased 2.7% in the 12 months to the June quarter. 

Annual inflation up 2.7% in June year
Economy

Annual inflation up 2.7% in June year

Annual inflation slightly lower than economists expected. 

June inflation forecasts approach 3%
Economy

June inflation forecasts approach 3%

Inflation may test the upper limit of the RBNZ's target range. 

Food prices rise 4.6% in the year to June
Economy

Food prices rise 4.6% in the year to June

New stats show food prices rose 4.6% in the year to June – the largest rate of increase since late 2023.That was up from a 4.4% increase in the year to May, Stats New Zealand’s latest selected price indexes show.Rising prices for fruit and vegetables in June have contributed to a...

Staff reporters 17 Jul 2025