New Zealand inflation reached the highest in 32 years

The New Zealand Statistics Bureau released data on the 18th local time. The country's consumer price index (CPI) in the second quarter of 2022 increased by 7.3%year -on -year, reaching the highest value since 1990.

The New Zealand Statistics Bureau issued a statement on the same day that the New Zealand CPI increased by 7.3%year -on -year in the second quarter of this year and 1.7%month -on -month. The statement said that the most important driving force for CPI rising is residential construction and leasing. Under the common effect of supply chain problems, labor prices, and increased residential demand, the country's residential construction price in the second quarter increased by 18%over the same period last year. In addition, the prices of gasoline and food have also risen significantly.

Reuters said that economists have previously expected that New Zealand's CPI in the second quarter will increase by 7.1%year -on -year, and will increase by 1.5%month -on -month. As a result, the actual data will exceed expectations. Some analysts believe that New Zealand inflation may have reached its peak, but it is still at a "worrying" high. If high inflation continues, the New Zealand Central Bank may further accelerate the implementation of a more tightening monetary policy.

Bloomberg reported that the Bank of New Zealand has raised the benchmark interest rate to 2.5%last week and stated that it will maintain a tightening policy. Reuters pointed out that the New Zealand government has decided to extend the time limit of fuel tax, road usage, and public transportation expenses on the 17th to alleviate the pressure of high inflation.

Market Watch website said that during the global epidemic period of new crown pneumonia, the economic stimulus policies of governments in various countries have generally pushed inflation; since this year, global supply chain has been disturbed, and the Russian and Ukraine conflicts have also helped high inflation. At present, the central banks of many countries are trying to control inflation through a sharp interest rate hike, but this means also have the risk of economic recession.

Recently, European and American countries have high inflation. In June this year, the US CPI rose 9.1%year -on -year, the French CPI rose 5.8%year -on -year, and the German CPI rose 7.6%year -on -year. Since March of this year, the Fed has raised interest rates three times, and raised the federal fund interest rate target range to 1.5%to 1.75%.

(Source: China News Network)

【Edit: Jinxin】

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