Petrol Prices Drive 3.2% Rise in Household Living Costs

The cost of living for New Zealand households rose by 3.2% in the year to June, driven primarily by sharp increases in petrol prices.

Petrol prices increased by 27.5% over the period, accounting for almost one-third of the annual increase in living costs for the average household.

This was revealed by Stats NZ in new figures released this week.

The inflation rate, as measured by the consumers price index, stood at 4.1% in the 12 months to June, following a 3.1% increase in the previous quarter.