Inflation reaches highest level in two years, driven by soaring petrol, diesel…

Inflation reaches highest level in two years, driven by soaring petrol, diesel prices | Stuff.co.nz <!--mynz:youtube-chapters--> {"v":1,"chapters":[{"timeSeconds":0,"label":"Inflation hits two-year high","summary":"New Zealand's inflation rate has reached its highest level in two years, climbing to 4.1 percent in the June quarter. This rise is primarily driven by increased petrol and diesel prices."},{"timeSeconds":26,"label":"Fuel prices surge","summary":"Petrol prices have increased by 27.5% over the year, while diesel prices have seen a significant 71% rise. This surge is largely attributed to global conflicts in the Middle East."},{"timeSeconds":37,"label":"Public reaction to rising costs","summary":"Members of the public express concern over the skyrocketing cost of fuel, with one individual stating it's a 'worry'."},{"timeSeconds":52,"label":"Finance Minister's comments","summary":"Finance Minister Nicola Willis acknowledges the impact of global events on inflation. She states that while international factors are beyond control, the government can manage its response."},{"timeSeconds":111,"label":"Economist on inflation drivers","summary":"Westpac Senior Economist Satish Ranchhod explains that high external inflation, particularly fuel costs, is a major concern for New Zealanders. He also notes pressure from domestic sources like power costs."},{"timeSeconds":124,"label":"Energy and local authority costs","summary":"Energy prices have jumped 12%, and local authority rates have risen by 8.8%. These increases are impacting household budgets."},{"timeSeconds":148,"label":"Positive signs in housing and food","summary":"Despite rising costs, rent increases are at their lowest in 25 years, and food prices are also at their lowest rate in two years. However, major parties disagree on who is to blame for these economic factors."},{"timeSeconds":219,"label":"Government spending criticized","summary":"The Labour Party criticizes the government's spending, stating that government costs and charges have increased by 21% over the past two years. They argue these costs have been passed on to consumers."}]} <!--/mynz:youtube-chapters-->