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.

She says domestic inflation is trending down, so she doesn't think the rise will be persistent.