WELLINGTON, July 26 (Xinhua) -- The average New Zealand household's cost of living increased by 5.4 percent in the 12 months to the June 2024 quarter, following a 6.2-percent increase in the 12 months to the March 2024 quarter, the statistics department Stats NZ said on Friday.
The most recent high was 8.2 percent recorded in the 12 months to the December 2022 quarter, the department said.
This was at the same pace as inflation, measured by the consumer price index, which was up 3.3 percent in the 12 months to the June 2024 quarter, following a 4-percent increase in the 12 months to the March 2024 quarter, it said.
The most recent inflation high was 7.3 percent recorded in the 12 months to the June 2022 quarter.
"Mortgage interest payments remain high, and continue to make a significant contribution to living costs for many households," Stats NZ consumer prices manager James Mitchell said.
Interest payments increased by 26.7 percent in the 12 months to the June 2024 quarter, Mitchell said, adding the cost of building a new home increased by 3 percent in the same period.
Other contributors to increased living costs for most household groups were private transport supplies and services such as petrol, insurance, and rent, Mitchell said. ■