NZ’s consumer price index up in Dec. ’24

New Zealand’s consumer price index (CPI) rose 2.2 per cent in the December 2024 quarter compared to the same quarter in 2023, according to Stats NZ’s latest report on Wednesday.

“This is the second consecutive quarter that the annual inflation rate has been within the Reserve Bank of New Zealand’s target band of 1 to 3 per cent,” prices and deflators spokesperson Nicola Growden said.

Annual inflation exceeded the target range between the June 2021 and June 2024 quarters, as per the statistics agency’s statement.

“Prices are still rising, but not as much as previously recorded. The most recent peak was in the June 2022 quarter when the annual inflation rate reached 7.3 per cent,” Growden said.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama