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Cost of Living for Average New Zealand Household Up 3.2% in 12 Months to June Quarter, Stats NZ Says

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The cost of living for the average New Zealand household rose 3.2% in the 12 months to the June quarter, as measured by the household living-costs price indexes, according to data from Stats NZ on Tuesday.

Higher petrol prices were the largest contributor to the increase in household living costs in the period, according to prices and deflators spokesperson Nicola Growden. For the average household, petrol prices rose almost 28% over the period, accounting for almost one-third of the annual increase in living costs.

Diesel prices accounted for nearly 10% of the 3.2 percent average household inflation rate.

This followed a 2.1% increase in the 12 months to the March quarter.

Inflation was 4.1% in the 12 months to the June quarter, following a 3.1% increase in the 12 months to the March quarter. Falling interest payments, down over 15%, were the main reason the cost of living for the average household remained below the overall inflation rate as measured by the consumers price index, per the report.

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