Housing sector still stoking annual inflation

(Image: Getty)

Tue, 18 Oct 2022

Annual inflation dipped slightly in the September quarter but remains hot, largely stoked by the housing sector. The consumer price index lifted to an annual 7.2% in the September quarter versus 7.3% in the prior quarter, largely driven by housing and household utilities, which lifted 8.7%.According to Stats New Zealand, prices for the construction of a new house rose 16.8% in the September quarter versus the same quarter a year ago. “The cost to construct a new house has continued to rise, with supply-chain issues, labour costs...

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