New Zealand food prices increased at the fastest rate in more than three decades in December, data from Statistics New Zealand showed on Thursday, signaling strong inflationary pressures that would prompt the Reserve Bank of New Zealand to continue its interest rate hikes.
Food prices grew 11.3 percent in December, following a 10.7 percent rise in November, data from Stats NZ showed Thursday. The latest growth was the biggest since April 1990, when food prices rose 11.4 percent.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.