New Zealand Inflation Hits 7.3 Percent, Highest in 32 Years

Annual inflation in New Zealand has hit a 32-year high at 7.3 percent. Viki Mohamad/Unsplash

New Zealand’s (NZ) annual inflation accelerated to 7.3 percent in June, reaching a new 32-year high and surpassing market expectations.

According to Stats NZ, the increase was led by housing costs, with an 18 percent jump in construction prices and a 4.3 percent increase in rentals for housing.