Economists say the recovery and rebuild could add to inflationary pressures in New Zealand as vehicles and household goods need to be replaced and there is an increase in construction work.
| Flood-ravaged Auckland is forecast to receive further heavy rain in the coming days, authorities in New Zealand’s largest city said on Monday, as insurers counted the costs of what looks likely to be the country’s most expensive weather event ever.that hit Auckland over the last three days amid record downpours. A state of emergency remains in place in Auckland. A state of emergency in the Waitomo region south of Auckland was lifted.
Fire and Emergency services received 30 callouts late on Sunday and into Monday morning, including responding to a landslide when a carport slid down a hill. The National Institute of Water and Atmospheric Research said Auckland has already recorded more than eight times its average January rainfall and 40 per cent of its annual average rainfall.The cost of the cleanup is expected to top the $NZ97 million bill for flooding on the West Coast in 2021 but will not be anywhere near as expensive as the estimated $NZ31 billion insured costs of, said Insurance Council of New Zealand spokesperson Christian Judge.
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