New Zealand's average household living costs rose 6.2% in 2024, with mortgage rates and interest payments up 28%.

New Zealand's average household living costs rose 6.2% in the year to March 2024, with mortgage rates and interest payments up 28%. This marks a decrease from the previous year's 7% increase, but still surpasses the consumer price index inflation rate of 4.0%. The largest contributors to the increase in living costs were private transport supplies and services, rent, and insurance.