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Source: MIL-OSI Submissions

Annual
inflation increases to 3.3 percent – Media release

16 July 2021

Annual inflation as measured by the consumers
price index (CPI) increased to 3.3 percent in June 2021, Stats NZ said
today.

This was the biggest increase in nearly 10
years and was driven by higher prices for new housing and petrol.

Previously, annual inflation had peaked at
5.3 percent in June 2011, impacted by a GST increase of 2.5 percentage
points that came into effect in October 2010. Before this, annual inflation
reached 5.1 percent in the September 2008 quarter, during the time of the
global financial crisis.

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