Business
New Zealand’s annual inflation at 3 per cent in September 2025 quarter: statistics
Wellington, Oct 20: New Zealand’s annual inflation reached 3 per cent till the September 2025 quarter, following a 2.7-per cent increase in the year till the June 2025 quarter, Stats NZ reported Monday.
This met the upper limit of the Reserve Bank of New Zealand’s 1-3 per cent target band for the annual inflation rate, according to a statement of the Statistics Department, Xinhua News Agency reported.
“The 3.0 per cent annual inflation rate in the September 2025 quarter is the highest since the June 2024 quarter, when it was 3.3 per cent,” Stats NZ prices and deflators spokesperson Nicola Growden said.
The largest contributors to the annual inflation rate were all in the housing and household utilities group, led by power, rent, and local authority rates, with the top three contributors making up around 17 per cent of the weight in the basket of New Zealand’s consumer price index, Stats NZ said.
Electricity prices jumped 11.3 per cent over the year, the largest annual gain since the March 1989 quarter when they rose 12.8 per cent, statistics show.
“Annual electricity increases are at their highest since the late 1980s, when there were several major reforms in the electricity market,” Growden said.
Prices fell over the year for pharmaceuticals, telecoms equipment, and petrol, helping offset some cost pressures, Stats NZ said.
On a quarterly basis, consumer prices rose 1 per cent in the September 2025 quarter, compared with the June 2025 quarter, driven largely by higher local authority rates and a 12.2-per cent increase in vegetable prices due to seasonal factors, it said.
Acting Finance Minister Chris Bishop said expectations are for inflation to drop towards 2 per cent in the first half of 2026, easing pressure on households and businesses.
On October 16, Stats NZ reported that food prices in New Zealand rose 4.1 per cent in the 12 months to September 2025, marking the smallest annual increase since April this year.
The grocery food group contributed most to the rise, up 3.9 per cent annually, according to the Statistics Department statement.
Key staples saw significant annual price hikes: white bread increased 49.6 per cent; cheese rose 31.4 per cent; butter climbed 28.9 per cent; and milk was up 15.1 per cent, Stats NZ said.
Vegetables also increased by 5.2 per cent annually, with cabbage nearly doubling in price from September 2024 to September 2025, the highest in nearly three years, and lettuce was up 55 per cent, it said.
“All five food groups continue to grow annually, but the rate of increase for overall food prices has slowed this month,” Growden said.
However, monthly food prices fell 0.4 per cent in September compared with August, driven by price drops in vegetables and chocolate, marking the first monthly decline since February 2025, statistics show.
Business
Customs duty on gold, silver, platinum tops Rs 10,460 crore since duty hike

New Delhi : The government has collected Rs 10,463 crore in customs duty from imports of gold, silver and platinum between May 13 and August 2 following the increase in import duties on the precious metals, Parliament was informed on Monday.
In a written reply to a question in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary said customs duty collections during the period stood at Rs 10,040 crore on gold, Rs 328 crore on silver and Rs 95 crore on platinum.
The combined customs duty collection from the three precious metals thus amounted to Rs 10,463 crore during the period.
With effect from May 13, the government had increased the import duty on gold and silver to 15 per cent from 6 per cent, while the duty on platinum was raised to 15.4 per cent from 6.4 per cent.
Moreover, consequential changes were also made to duties on related items, including gold and silver dore, coins and findings.
Chaudhary said the government had taken the decision to curb discretionary imports and prioritise foreign exchange for essential imports such as crude oil, fertilisers, industrial raw materials and capital goods.
The duty hike came against the backdrop of rising global uncertainties, including the conflict in West Asia and the effective blockade of the Strait of Hormuz, which had pushed up prices of crude oil as well as food and fertiliser imports.
The minister also informed the House that enforcement agencies seized 161 kg of smuggled gold and arrested 116 persons between May 13 and June 30.
India is the world’s second-largest consumer of gold after China with imports largely driven by demand from the jewellery sector.
Gold imports account for a significant outflow of foreign exchange and are closely monitored by policymakers from a balance-of-payments perspective.
Business
TRAI mandates 1601-series numbers for service calls from utilities, logistics firms

New Delhi : The Telecom Regulatory Authority of India (TRAI) on Monday directed telecom operators to begin onboarding entities from select non-financial sectors onto the new 1601-series numbering framework for transactional and service voice calls extending a system already in use by the banking, financial services and insurance (BFSI) sector.
After this decision, consumers can identify genuine service and transactional calls and curb impersonation and fraud carried out through regular 10-digit mobile numbers.
In addition, TRAI said it has issued directions on the use of the 1601-series numbers for entities in sectors other than BFSI and government organisations which currently use the 1600-series numbering framework.
The authority also noted that the widespread adoption of 1600-series numbers by BFSI entities has provided valuable operational experience for expanding the trusted numbering framework to other sectors.
Under the first phase of implementation, the 1601-series will be allotted to entities in the utilities sector, including electricity distribution companies, water utilities, city gas distribution companies, LPG distributors and other utility service providers.
The logistics and courier sector has also been included in Phase-I, covering courier companies, express logistics firms, parcel delivery service providers as well as freight and logistics operators involved in consignments delivery.
TRAI said the Department of Telecommunications (DoT) has allocated the 1601-series for such calls and telecom service providers (TSPs) have been directed to complete migration and onboarding of eligible entities covered under Phase-I within 90 days from the date of the order.
The regulator further noted that 1601-series numbers would be allocated directly to eligible entities rather than intermediaries or aggregators following verification by telecom operators.
“The distinct numbering identity will enable the consumers to easily identify legitimate service and transactional calls, thereby strengthening trust in such voice-based communications,” the regulator said.
Additionally, TRAI clarified that the 1601-series numbers cannot be used for promotional voice calls by any entity.
Business
Centre’s expenditure on 1,847 big infra projects touches Rs 21.97 lakh crore

New Delhi: The expenditure on India’s 1,847 major infrastructure projects, currently being implemented by the Centre, has reached Rs 21.97 lakh crore (as of June 2026), which represents over 54 per cent of the total investment of Rs 40.54 lakh crore earmarked for these mega projects, reflecting steady progress in the pace of work, according to a factsheet issued by the government on Monday.
Many projects have reached advanced stages of completion, with around 709 projects exceeding 80 per cent physical progress, while another 337 projects have passed 80 per cent of financial completion, the factsheet states.
The transport and logistics sector leads with the 1,341 projects worth Rs 22.32 lakh crore, reflecting the focus on connectivity.
These projects are playing a crucial role in pushing up the country’s economic growth rate and creating more jobs.
Efficient monitoring of infrastructure projects is being carried out through PAIMANA (Project Assessment, Infrastructure Monitoring and Analytics for Nation-Building) digital platform. Developed by the Ministry of Statistics and Programme Implementation (MoSPI), PAIMANA is used for monitoring ongoing Central Sector infrastructure projects costing Rs 150 crore or more.
In addition to strengthening project monitoring, PAIMANA has expanded its role to support infrastructure performance monitoring through a dedicated Performance Monitoring Dashboard which was launched on April 16, 2026.
The Performance Monitoring Dashboard brings together performance indicators across key infrastructure sectors in a unified digital platform. The indicators are compiled from official data provided by the concerned Ministries and Departments and are updated periodically based on the latest available information.
A detailed indicator framework spans six infrastructure sub-sectors. These are Power, Civil Aviation, Telecommunications, Railways, Roads, and Ports, Shipping and Waterways.
The Performance Monitoring Dashboard has now been expanded to 165 indicators. This expansion includes the addition of 54 new indicators, significantly enhancing the comprehensiveness of infrastructure performance monitoring.
A single digital interface allows monitoring of performance sector by sector. It offers interactive visualisation and time-series analysis for policymakers, researchers and stakeholders.
A centralised dashboard delivers one cross-sector view of infrastructure sectors. This capability deepens inter-sectoral analysis.
The current framework gauges sectoral performance through growth rates. It reviews year-on-year, month-on-month and cumulative growth, targets and capacity utilisation in chosen sectors, the official statement added.
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