New Zealand inflation hits 7.3%, the highest rate since 1990

Food prices rose 1.3% in the June quarter as New Zealand’s inflation rate hit 7.3%, the highest in 32 years. Photograph: Xinhua/REX/Shutterstock

Inflation in New Zealand has hit a steeper-than-forecast 7.3%, its highest level in three decades, with households facing hefty jumps in food, petrol and housing costs.

Stats NZ has released its quarterly consumers price index for the three months leading up to June. Inflation rose from 6.9% in March to 7.3%, with food up 1.3% and 2.3% rises in transport as well as housing and household utilities.