New Zealand's annual inflation rate in the second quarter stood at 4.1% year-on-year, surpassing market forecasts.
4.1% y/y
Annual inflation in Q2, above forecasts.
The inflation rate was above what analysts had predicted.
According to reports, the acceleration in inflation was fueled by soaring fuel costs.
The Q2 figure was the highest annual inflation reading in more than two years, it has been reported.
The data reinforces the Reserve Bank's decision to begin raising interest rates, according to sources.
