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Inflation Rises, Housing Stabilizes | Auckland News
Inflation surged to 4.1% in Q2, driven by soaring electricity, council rates, and petrol prices—pushing us beyond the Reserve Bank’s target. While petrol was a major factor, broader price pressures remain contained for now. Housing rents are cooling to decades-low levels as supply-demand balances, despite rising net migration. The Reserve Bank is poised for another rate hike in September, likely pushing mortgage rates higher—and offering homeowners a window to refinance. Watch for key data on mortgage lending and business sentiment, as wage pressures could trigger “second-round” inflation…
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