New Zealand's annual inflation falls to 3.3%, below the 4% peak in 2022 and within the Reserve Bank's target range.
New Zealand's annual inflation hits 3.3%, down from a 4% increase in the previous quarter, according to figures released by the statistics department, Stats NZ. The 3.3% annual price increase is below what was seen during the peak in 2022 and is similar to three years ago. The Reserve Bank of New Zealand's target range for consumer inflation is between 1% and 3%. Housing and household utilities were the largest contributors to the annual inflation, followed by rising prices for insurance.
July 16, 2024
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