June quarter inflation hits 4.1%, well above Reserve Bank target
New Zealand's inflation rose to 4.1% annually as the economy faces pressure from multiple directions.
Stats NZ released the June-quarter inflation data this week, showing New Zealand's recovery being squeezed from both sides. The Consumer Price Index increased 1.5% over the quarter, pushing annual inflation to 4.1%, which sits well above the Reserve Bank of New Zealand's 1 to 3% target band.
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Stats NZ’s release of the June-quarter inflation data this week shows NZ’s recovery is being squeezed from both sides. The 1.5% increase in the Consumer Price Index (CPI) over the quarter pushed annual inflation to 4.1% – well above the…