New Zealand's Consumers Price Index (CPI) had an annual increase of 1.9 percent, and rose 0.5 percent from the June 2017 quarter, the country's statistics department Stats NZ said on Tuesday.
This comes after zero percent quarterly, and 1.7 percent annual, inflation last quarter, said a Stats NZ statement, adding that collectively, housing-related costs had the largest upward contribution in the September 2017 quarter, slightly offset by falls in transport prices.
Rents in New Zealand rose 0.6 percent in the September 2017 quarter and 2.2 percent in the year, the statement said, adding that construction of new dwellings, excluding land, rose 1.1 percent this quarter and 5.4 percent in the year to September.
Local authority rates rose 3.5 percent this quarter and 3.7 percent in the year, it said, adding that dwelling insurance rose 6.1 percent this quarter and 12 percent in the year.
The country's largest city, Auckland, had the lowest annual increases in rent and construction costs since March 2015. In the capital, Wellington, construction costs rose 1.4 percent in the September 2017 quarter, or 3.2 percent annually, and rents rose one percent quarterly, or 3.7 percent annually, which was the largest annual increase in Wellington rents since December 2008, according to Stats NZ.
"Rents and construction costs in Wellington are rising faster than for the rest of the country," said prices senior manager Jason Attewell, adding, "Annual rents rose by more in Wellington than Auckland, while Christchurch rents fell," referring to the country's three largest cities.
Meanwhile, petrol prices fell 1.7 percent in the September 2017 quarter and increased 4.5 percent in the year, Stats NZ said, adding that international air fares fell 5.5 percent this quarter and 2.7 percent in the year to September.
This comes after zero percent quarterly, and 1.7 percent annual, inflation last quarter, said a Stats NZ statement, adding that collectively, housing-related costs had the largest upward contribution in the September 2017 quarter, slightly offset by falls in transport prices.
Rents in New Zealand rose 0.6 percent in the September 2017 quarter and 2.2 percent in the year, the statement said, adding that construction of new dwellings, excluding land, rose 1.1 percent this quarter and 5.4 percent in the year to September.
Local authority rates rose 3.5 percent this quarter and 3.7 percent in the year, it said, adding that dwelling insurance rose 6.1 percent this quarter and 12 percent in the year.
The country's largest city, Auckland, had the lowest annual increases in rent and construction costs since March 2015. In the capital, Wellington, construction costs rose 1.4 percent in the September 2017 quarter, or 3.2 percent annually, and rents rose one percent quarterly, or 3.7 percent annually, which was the largest annual increase in Wellington rents since December 2008, according to Stats NZ.
"Rents and construction costs in Wellington are rising faster than for the rest of the country," said prices senior manager Jason Attewell, adding, "Annual rents rose by more in Wellington than Auckland, while Christchurch rents fell," referring to the country's three largest cities.
Meanwhile, petrol prices fell 1.7 percent in the September 2017 quarter and increased 4.5 percent in the year, Stats NZ said, adding that international air fares fell 5.5 percent this quarter and 2.7 percent in the year to September.
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