New Zealand Annual Inflation Eases to 7.2 Percent, Economists Warn of Higher Interest Rate Hikes

Fresh produce is sold at the Wesley Market in Mt Roskill in Auckland, New Zealand, on Sept. 2, 2011. Phil Walter/Getty Images

New Zealand’s quarterly inflation rose to 2.2 percent in the three months to September, while the annual inflation rate edged down to 7.2 percent, according to Stats NZ.

This follows a 1.7 percent quarterly inflation and 7.3 percent annual inflation over the 12 months to June—a 32-year high.