New data shows food prices have shot up for the first time in three months - contributing to inflationary pressures.

Stats NZ says food prices went up 0.6 percent on March, to be 0.8 percent higher than 2023 figures.

Rent and petrol, two other key components, went up by 4.6 percent and 2 percent, respectively.

 ASB economist Kim Mundy says it's likely consumers will have to tighten their belts for longer to get inflation under control.

"We don't think there's going to be enough evidence to convince the Reserve Bank that it has done enough to make sure that inflation is really back within target."

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New data shows food prices have shot up for the first time in three months - contributing to inflationary pressures.
Stats NZ says food prices went up 0.6 percent on March, to be 0.8 percent higher than 2023 figures.
Rent and petrol, two other key components, went up by 4.6 percent and 2 percent, respectively.
 ASB economist Kim Mundy says it's likely consumers will have to tighten their belts for longer to get inflation under control.
"We don't think there's going to be enough evidence to convince the Reserve Bank that it has done enough to make sure that inflation is really back within target."
LISTEN ABOVE

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