Inflation falls to lowest level since late 2021

Stats NZ says consumer prices rose 1.1 percent for the three months ended June, with the annual rate falling to 6 percent from 6.7 percent.

The figure was slightly above expectations, but just below the Reserve Bank's May forecast.

The main driver of the quarterly rise was food prices, with smaller lifts in the cost of building and running a house, which offset a fall in transport costs such as fuel.