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Annual inflation has increased 7.3 percent since the June 2021 quarter, the largest year-on-year increase for 32 years, driven by more expensive fuel, building materials, food and housing costs.
Petrol prices leapt 32% over the year while diesel prices were up an eye-watering 74%, Stats NZ reported.
Grocery food prices were up by marginally less than the overall inflation rate, rising 7.1%, rents were up 4.3%.
Combined this has pushed the annual rate to a record 7.3 pct, the highest since June 1990.
The increase cements a further hefty rate rise by the Reserve Bank next month.
General Manager, Economic and Environment Insights at Statistics NZ Jason Attewell spoke with Kathryn Ryan to slice and dice the CPI numbers.
