Mortgage owners in New Zealand should brace for pain, with higher than expected inflation at 7.2 per cent for the year to September, keeping inflation near 30-year highs.
Stats NZ found the consumers price index (CPI) rose by 2.2 per cent in the last quarter, fuelled by the increased cost of housing, travel, and vegetables.
The result is a slight easing of the 7.3 per cent measured in the year to June - the highest figure since 1990 - but well above all forecasts.
