May 23, 2022

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New Zealand has been recording high inflation for more than 30 years

This content was released on April 21, 2022 – 03:37

Sydney (Australia), ap. 21 (EFE) .- New Zealand recorded 6.9 percent inflation, the biggest increase in more than 30 years, between April 2021 and March this year, official sources said on Thursday.

The New Zealand Bureau of Statistics said in a statement that the annual increase in the consumer price index, a measure of inflation, was after announcing a rise of 1.8 per cent in the first quarter of 2022.

Inflation was lower than experts predicted – above 7 percent – mainly due to a strong increase in the cost of new home construction, estimated at 18 percent – the highest since 1985. These measurements began.

Similarly, fuel prices rose 32 percent in the twelve months before March 2022, indicating the largest increase since 1985, the official report said.

In a separate statement, New Zealand Finance Minister Grant Robertson said, “These are difficult times for the global economy as significant increases in food and fuel prices are affecting all countries.

“New Zealand cannot get rid of these challenges and the price of food or petrol cannot be controlled by the government,” the finance minister said.

Concerns over rising inflation in the Ocean prompted the Reserve Bank of New Zealand to raise interest rates to 1.5 percent this month. EFE

Watt / NC / Ka

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