New Zealand's annual inflation rate is 7.2 percent.

Stats NZ has just released its Consumers Price Index for the 12 months to December 2022.

It follows a 7.2 percent annual increase in the September quarter.

The country's had months of high inflation - with prices frequently rising faster than at any time since the early 1990s.

After housing and household utilities, the next largest contributor to the annual increase was food prices.

NZ Herald Business Editor at Large Liam Dann joined Kerre to chat about what this means for New Zealanders.

LISTEN ABOVE

• Latest inflation stats: Rising cost of housing, food and transport
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