Annual inflation hits 6.9%, highest in 30 years

21st April 2022 By Staff Reporter | news@foodticker.co.nz | @foodtickernz

The annual CPI inflation rate for the March 2022 quarter reached 6.9% – the largest movement since a 7.6% annual increase in the year to the June 1990 quarter, said Stats NZ.

The 6.9% increase followed an annual increase of 5.9% in the December 2021 quarter.

In the March 2022 quarter compared with the December 2021 quarter, the CPI rose 1.8%, or 1.7% with seasonal adjustment.

Annual food prices to March 2022 increased 6.7%, influenced by fruit and vegetables up 17% and grocery food, up 5.5%.