New Zealand's annual inflation hits 32-year high over rising construction, petrol prices

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New Zealand's annual inflation hits 32-year high over rising construction, petrol prices

STORY: New Zealand's annual inflation hits 32-year high over rising construction, petrol prices DATELINE: July 18, 2022 LENGTH: 00:01:16 LOCATION: Wellington CATEGORY: ECONOMY SHOTLIST: 1. various of Wellington 2. various of supermarket 3. various of gas station STORYLINE: New Zealand's consumer price index (CPI) increased 7.3 percent in the June 2022 quarter year-on-year, a 32-year high due to higher prices for construction and petrol, the country's statistics department Stats NZ said on Monday. According to Stats NZ, the main driver for the high annual inflation to the June 2022 quarter was the housing and household utilities group, due to rising prices for construction and rentals for housing. The next largest contributor to the annual inflation was from the transport group, due to higher prices for petrol and diesel. Statistics show that petrol prices rose 32 percent in the June 2022 quarter, the largest annual increase since the June 1985 quarter. Diesel prices jumped 74 percent over the s

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