Inflation eases to 3.7% - Stats NZ

<p>Annual inflation has dipped to 3.7% in the September quarter, Stats NZ has announced this morning.</p> <p>The Stats NZ figure is down from 4.1% in the June quarter, but economists warn the dip is likely to be short-lived, with inflation expected to climb again in the next quarter.</p> <p>Petrol was the biggest driver of the annual rise, with prices up 19.1% on a year earlier. Without the jump at the pump, annual inflation would have been 3.2%.</p> <p>“Petrol prices fell in the September 2026 quarter, compared with the June 2026 quarter,” Stats NZ prices and deflators spokesperson Nicola Growden said.</p> <p>“However, petrol prices remained higher than in the September 2025 quarter.”</p> <p>The cost of constructing new housing also increased, up 3.2%.</p> <p>“Respondents reported that higher costs for materials, subcontractors, labour, and fuel contributed to rising prices for new housing,” Growden said.</p> <p>Other contributors to annual inflation included electricity (up 9.3%),…