Living costs have surged for Kiwi households with the whopping 4.9 percent annual jump in the Consumer Price Index.
Released by Statistics New Zealand on Monday, the Consumer Price Index (CPI) uses a set sample of goods and services (e.g. food, housing, health and transport), to measure price changes on a quarterly and annual basis. As a measure of inflation, latest CPI figures reflect high price rises are hitting the back pockets of Kiwi consumers.
Annual price inflation (the difference between the September 2020 quarter and the September 2021 quarter), was 4.9 percent.
The quarterly change in prices (June 2021 quarter compared to the September 2021 quarter), was 2.2 percent.
Over the September quarter, food costs rose 2.7 percent driven by higher fruit and vegetable costs. Housing and household utilities rose 2.6 percent, higher house prices driving up the cost of ownership. Transport costs were up 4.2 percent.
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