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Story summary
- Brent crude rose 4.6% to $88.13 a barrel after U.S.-Iran hostilities, pushing price gains toward 24%.
- ANZ senior economist Miles Workman warned fuel costs could spill into other consumer prices, raising New Zealand inflation expectations.
- Economists said consumer prices rose 1.5% in the June quarter, lifting annual inflation to 4.1%.
- Surveys show 43% of firms plan price hikes, up from 25% last quarter, while rents have been flat since last year.
