Inflation in New Zealand hits 32-year high

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WELLINGTON, New Zealand (AFP) — Inflation in New Zealand rose to a 32-year high of 7.3 percent on-year in the second quarter, according to official figures released Monday. The main drivers were rising fuel, food and housing costs, said Stats NZ, putting inflation at a level last seen in 1990. “Supply chain issues, labor costs, and higher demand have continued to push up the cost of building a new house,” said Jason Attewell of Stats […]