New Zealand records the highest rate of inflation in 12 months

16 hours ago

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Lamgeton on July 21 / WAM / The rate of consumer price inflation in New Zealand increased during the second quarter of this year to its highest level in 12 months as a result of the high prices of electricity and food and the rent of housing, but it remained within the target scope for the New Zealand reserve bank.

The New Zealand Statistical Office stated that the consumer price index increased during the past three months by 0.5% compared to the three months until the end of March, bringing the annual increase of the index during the second quarter of the year to 2.7% compared to 2.5% in the first quarter of the year.

Nikola Groden, Director of Price Administration at the Statistical Office, said that inflation is still within the scope of the reserve bank, which ranges between 1 and 3% for the fourth quarter in a row, despite the rise in its average compared to the first quarter of the year, and that local prices have been formed the backbone of it; It increased by 0.7% during the second quarter by 3.7% annually, which is the lowest annual increase of these prices in 4 years.