The UK's retail prices rose 3.2% year over year in July, following a 3% increase in June, data from the Office for National Statistics showed Wednesday.
The consensus estimate for the month was a 3.3% growth.
On a monthly basis, the index was 0.6% higher, against the prior 0.3% gain and the expected 0.8% rise.
Housing affordability in New Zealand has returned to its long-term average due to several years of lower property values, decreasing mortgage rates, and rising household incomes, according to the Cotality Housing Affordability Report released on Wednesday.The report indicates that every major affordability measure improved in the June quarter, with the national value-to-income ratio falling to 6.7 in the second quarter, aligning with its long-term average from 2004 to 2026, and down from the peak of 9.8 in late 2021.Housing was not necessarily "cheap," but affordability was no longer the barrier that it was four or five years ago, Cotality NZ Chief Property Economist Kelvin Davidson said.Mortgage repayments fell to 40% of gross household income, below the long-term average of 42% and lower than the 54% peak observed in late 2021.The typical time required to save a 20% deposit also eased to 8.9 years, slightly below the long-term average of 9 years and well below the cyclical peak of a little over 13 years, per the report.
Australia's seasonally adjusted wage price index rose 0.8% in the June quarter from the March quarter, data from the Australian Bureau of Statistics showed on Wednesday.The private sector was the largest contributor to quarterly wage growth, representing 68% of the index rise. The public sector's contribution to overall wage growth in the June quarter was higher year-over-year.Hourly pay rates, excluding bonuses, increased 0.7% in the private sector and 0.9% in the public sector, on a seasonally adjusted basis.On an annual basis, wage growth was 3.2% in the June quarter, down from 3.4% in the June 2025 quarter.Private sector wages rose 3.1% in the year to the June quarter, down from 3.4% a year earlier, while public sector wages grew 3.4%, down from 3.7% over the same period.
Prices paid by producers of goods and services in New Zealand in the June quarter saw a 4.1% increase compared with the same period last year, according to a report released by Stats NZ on Wednesday."In the June quarter, prices paid by producers for inputs like fuel, power, and raw materials rose faster than prices received for the goods and services they produced," said prices and deflators spokesperson Nicola Growden.Prices received by producers of goods and services rose 3.2%.Meanwhile, prices paid by farmers recorded an 8% year-on-year increase in June, while capital goods prices saw a 3.2% year-on-year increase.