Inflation's risen again - and is now back above the Reserve Bank's target range

Latest Stats NZ data shows the Consumers Price Index rose 3.1 percent in the year to December - up from a 3-percent rise in the year to September.

The Reserve Bank's been hoping to see inflation return towards the middle of its one to three percent target range.

But, while petrol and food price rises are easing a little, travel costs are rising faster than expected.

The central bank's expected to keep the OCR unchanged at 2.25 percent for a while, as it awaits more economic data.