The consumers price index (CPI) fell 0.2 percent in the December 2014 quarter, following three consecutive rises of 0.3 percent, Statistics New Zealand said today. The CPI often falls in December quarters. “Lower prices for petrol and vegetables were partly countered by higher prices for international travel and housing-related costs,” prices manager Chris Pike said. Petrol prices (down 5.7 percent) made the largest downward contribution. Excluding petrol, the CPI showed a 0.1 percent rise this quarter. The average price of a litre of 91 octane petrol in the December 2014 quarter was $2.00, compared with $2.12 in the ... (full story)