New Zealand consumer prices have risen as a weaker currency and higher global oil prices lift the cost of petrol, and housing continues to get more expensive.
The consumers price index rose 0.4 per cent in the three months ending June 30, turning around two quarters of deflation, according to Statistics New Zealand.
Annual inflation rose at a 0.3 per cent pace, accelerating from the 0.1 per cent yearly increase three months earlier, though still below the central bank's target band of between 1 per cent and 3 per cent.
The New Zealand dollar fell to a fresh five-year low of US65.61 cents following the release of the data on Thursday morning.
A rebound in petrol prices underpinned the quarterly gain, with fuel prices up 8.8 per cent in the three month period. On an annual basis, petrol prices were down 7.4 per cent.
"The main impact came from higher petrol prices, which were up 8.8 per cent in the June quarter," Statistics NZ prices manager Chris Pike said.
"Without petrol, the CPI was flat for the quarter."
Housing-related prices contributed to the quarterly increase in inflation, with a 1.5 per cent rise in the cost of new housing and a 0.6 per cent increase in rentals. New housing prices rose 5.3 per cent in the year ended June 30, while rental prices advanced 2.3 per cent.
Household electricity prices rose 0.6 per cent in the quarter, and were unchanged on an annual basis, while gas prices fell 0.4 per cent in the June period, and were 0.9 per cent on the year.
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