Hon GRANT ROBERTSON (Minister of Finance): In response to the first part of the question, yes. New Zealand's inflation rate has increased to an annual rate of 7.3 percent in the June quarter 2022. The domestic labour market is clearly the tightest it has been in a generation. However, the fact that both the Reserve Bank and a wide range of observers are suggesting that the annual inflation rate has peaked is an encouraging sign and indicates that the steps that the Reserve Bank has taken so far to contain inflation are working. With regard to the second part of the question, over the period the member is referring to, the Government has enacted temporary reductions in fuel excise duty and road-user charges to soften the impact of high petrol prices and introduced half-price public transport, which have in fact put downwards pressure on the Consumers Price Index (CPI).