Kiwi Inflation Hits 4.1%, Domestic Prices Slow Down

The June quarter inflation data from New Zealand has been released, showing a print of 4.1%, above the Reserve Bank's target band.

Fuel prices were a major contributor to this increase, with petrol and diesel rising by 20% and 50% respectively over the quarter.

However, domestic prices printed less hot, decreasing from 3.5% in March to 3.4% in the June quarter, consistent with expectations of soft domestic activity.

Kiwi households have been prioritizing savings over spending, according to Kiwibank's latest State of Savings report, despite ongoing cost-of-living pressures.