..no peak inflation in sight (yet). New Zealand inflation reaches 7.3 per cent, highest in 32 years
Tom Richardson
Annual inflation reached 7.3 per cent in New Zealand for the June quarter slightly ahead of analysts’ expectations and at its highest in 32 years.
“The 7.3 percent increase follows an annual increase of 6.9 percent in the March 2022 quarter, the previous largest annual movement since a 7.6 percent increase in the June 1990 quarter,” said statistics New Zealand.
The Reserve Bank of New Zealand has lifted interest rates six times since October in response to inflation with the cash rate currently at 2.5 per cent.
