The household cost of living in New Zealand rose 3% in the 12 months to the December 2024 quarter, following a 3.8% increase in the year to the September quarter, Stats NZ data showed Monday.
This is the lowest quarterly print since the second quarter of 2021, when the measure was at 2.5%.
In comparison, the consumer price index (CPI) was unchanged at 2.2% between the September and December quarters.
The household living-costs price index include interest payments, while the household living-costs price index includes the cost of building a new home.
"For many households, interest payments on mortgages remain high and continue to contribute significantly to living costs," prices and deflators spokesperson Nicola Growden said.
"Though it's still high, we have seen inflation for mortgage interest payments continue to slow from its heights in 2022."
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