NZ annual inflation hits 30-year high of 6.9%

The rising cost of house building helped drive up consumer prices. (Image: Getty)

Thu, 21 Apr 2022

New Zealand’s annual inflation hit a 30-year high in the March quarter, boosted by rising prices for construction and more expensive rental housing.The consumers price index (CPI) rose 1.8% in the March quarter, bringing the annual rate to 6.9%, accelerating from a pace of 5.9% in the December period. It was the fastest pace since annual inflation hit 7.6% in the June 1990 quarter.The Reserve Bank had forecast CPI to rise 1.4% in the quarter, taking annual inflation to 6.6%, whereas bank economists predicted annual inflation to come in be...

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