Experts have offered reassurance our high inflation isn't a sign of things to come.

Stats NZ figures show the Consumers Price Index reached 2.7 percent for the year to June.

Inflation fell to just 2.2 percent last year - from 7.3 percent three years ago - but has been rising since.

Kiwibank senior economist Mary Jo Vergara says this is likely a spike, so should go back down.

"If you look at domestic inflation, that's really trending down - so I don't think this is going to be something that is persistent." 

LISTEN ABOVE