Inflation still twice the maximum target level

6.0% inflation is I guess better than 7.0% inflation, but the cumulative impact off high inflation is huge.

Overall prices are 17.6% higher than three years ago. This is a greater increase than the 15.0% increase over nine years of the Key/English Government (and that included a GST increase which had compensating tax cuts).

Also note the hike in petrol tax came in on 1 July so won’t be captured in the data just released.