New Zealand: Inflation jumps to over 30-year high in Q1
Consumer prices soared 1.8% from the previous quarter in Q1, coming in above Q4 2021’s 1.4% increase. In terms of specific categories, higher prices for food, housing and household utilities and transport drove the reading.
Meanwhile, inflation jumped to 6.9% in Q1 from 5.9% in Q4 2021, logging the fastest print since Q2 1990 and moving further above the Central Bank’s 1.0%-3.0% target band.