PremiumHome / BusinessLiam DannBusiness Editor at Large·NZ Herald·20 Jul, 2026 12:00 AM4 mins to readSoaring oil prices have been the big driver of inflation.Soaring oil prices have been the big driver of inflation.Economists expect the annual inflation rate for the second quarter, published Tuesday morning, will land at around 4% – its highest level in more than two years. The big driver of the rise is expected to be fuel prices, which soared in the second quarter as the US/Iran conflict caused AdvertisementAdvertise with NZME.
‘Fuel prices remain a wild card’ – CPI inflation tipped to top 4%
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