Consumer prices in New Zealand have increased by 1.2% in the first quarter of 2021, driven by high food prices and housing costs. However, the annual
Consumer prices in New Zealand have increased by 1.2% in the first quarter of 2021, driven by high food prices and housing costs. However, the annual inflation rate has fallen to 6.7%, which is lower than expected. The Reserve Bank is likely to increase the official cash rate next month due to the underlying pressures. Food prices have been increasing for several months, with an annual increase of 12.1% in March, the biggest jump since 1989. The rising cost of living is causing financial difficulties for many New Zealanders.
