Rising petrol prices push up inflation

Rising petrol prices have pushed prices of all goods up across New Zealand. File Photo.

Higher prices for petrol and air fares are some of the factors pushing inflation up to 1.3 per cent.

Petrol prices led the increase, with the average price paid for a litre of regular 91 up 7 cents, or 4.1 per cent, to $1.82.

Statistics New Zealand prices senior manager Jason Attewell says it is the first time in over two years price increases for households have exceeded one per cent.

“Household price inflation is up from a historical low of 0.1 percent for the December 2015 year.”

Prices for tradable goods and services were 0.1 percent lower in the year to December 2016. Despite higher quarterly prices, petrol and international airfares were cheaper than a year ago. Non-tradable goods and services showed a 2.4 percent increase, influenced by housing-related price increases.

“Higher prices for petrol, air fares, and new house builds were partly offset by lower prices for food and furniture, though,” says Jason.

In the last six weeks, petrol prices in Tauranga and Mount Maunganui have increased by almost 20 cents.

Before the summer break, most petrol prices in the city were between $1.50 and $1.70. Now, they generally hover between $1.75 and $1.85, although these can change from day to day.

Have you felt the pinch from petrol price increases? Check out today’s cheapest local prices below, and let us know your thoughts.

Gull Hewletts Road

Regular 91: 1.71

Diesel: 0.97

Waitomo Petroleum

Regular 91: 1.73

Diesel: 0.99

Z Hewletts Road

Regular 91: 1.73

Diesel: 1.01

Mobil Chapel Street

Regular 91: 1.74

Diesel: 1.01

Gull Bethlehem

Regular 91: 1.76

Diesel: 1.06


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