Rise in cost of staying in hotels and motels lifts consumer prices

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Higher housing costs, accommodation, and car prices lifted consumer prices unexpectedly at the end of last year.

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The consumer price index rose 0.5 percent in the three months ended December.

The main driver was a rise in the cost of staying in hotels and motels, which rose 20 percent during the quarter as demand and prices rebounded after the lockdowns.

The price of building a new house continued to rise, and the price of used vehicles had their biggest quarterly rise in 23 years.

The rise was higher than expected and the annual inflation rate stayed unchanged at 1.4 percent.

More to come…

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