NZ Inflation Rate Dips on Lower Mortgage Costs

New inflation numbers have been released in New Zealand, showing an annual rate of 3.2 percent for the year to June. According to Statistics NZ, this is based on the Household Living-Costs Price Index, which takes into account mortgage interest payments.

This measure is lower than the Consumer Price Index (CPI) inflation rate of 4.1 percent. Mortgage interest payments are down by 15 percent, a significant factor in keeping costs manageable for home-owning families.

National Party MP Nicola Willis may see these numbers as positive, claiming credit for helping bring mortgage costs down and blaming global events, such as the Trump administration's involvement with Iran, for rising petrol prices.