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Source: MIL-OSI Submissions

Prices rebound as New Zealand unlocks from COVID-19 – Media release

23 October 2020

Higher prices for vegetables and rates, and a rebound in the cost of public transport, led to a 0.7 percent rise in the consumers price index (CPI) in the September 2020 quarter, taking annual inflation to 1.4 percent, Stats NZ said today.

The rise this quarter more than reversed a 0.5 percent drop in inflation during the June 2020 quarter, when petrol prices fell sharply as the COVID-19 pandemic hit. By early June, New Zealand was back to COVID alert level 1, but in mid-August the Auckland region moved back to alert level 3. The rest of New Zealand moved to COVID alert level 2 at this time.

COVID-19 uncertainty was a factor in the 18 percent rise in vegetable prices over the September quarter.

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