Inflation and Consumer Price Data w/ James Mitchell: 3 August, 2023

Data released this month by StatsNZ has shown that annual inflation is down to six per cent from six-point-seven per cent in the previous twelve-month period until March 2023. 

Although despite this period of disinflation, Consumer Price Index data has shown that the price of consumer goods has continued to rise, with stubbornly high food prices fuelling the cost of living crisis. Food prices have risen above general inflation with food inflation on the Consumer Price Index sitting at twelve-point-three percent in the June quarter of this year. 

To talk more about the decrease in inflation and what that signals within the New Zealand economy, producer Andre Fa’aoso spoke to James Mitchell, manager of Consumer Price Delivery at StatsNZ.