New Zealand Inflation Hits 32 Year High
Burc Oran
July 18, 2022
In New Zealand, consumer inflation increased by 7.3 percent in the second quarter, the fastest increase in 32 years.

In New Zealand, consumer inflation increased by 7.3 percent in the second quarter, the fastest increase in 32 years.

The increase in consumer prices in New Zealand does not slow down. As of the second quarter, inflation announced in the country raised the expectations that the central bank will continue its tightening cycle.

According to official data, the second inflation in New Zealand was 7.3 percent. Economists had expected inflation to be recorded as 7.1 percent in this period. In the previous quarter, inflation was 6.9 percent.

The increasing momentum in inflation brought with it the tightening moves of the New Zealand Central Bank. At its meeting last week, the bank made the third consecutive 50 basis point rate hike and raised the policy rate to 2.5 percent.

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