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New Zealand annual inflation highest in over five years
The consumers price index (CPI) increased 2.2 percent in the year to the March 2017 quarter, Stats NZ said today. This is the highest annual increase since the September 2011 quarter, the last quarter affected by the rise in GST from 12.5 to 15 percent. "Rising petrol prices along with the annual rise in cigarette and tobacco tax lifted inflation," prices senior manager Jason Attewell said. "Petrol prices in New Zealand are closely linked to global oil prices, and cigarettes and tobacco taxes rise in the March quarter each year". Housing-related prices continued to increase, up 3.3 percent in the March 2017 year. ... (full story)
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New Zealand Q1 Consumer Price Index Rises 2.2%, Beating Forecasts
New Zealand’s official inflation rate strengthened faster than expected in the first quarter, a sign that rock bottom interest rates were fueling price growth in the economy. The consumer price index (CPI) rose 1% in the first quarter, following a 0.4% increase in December, the federal statistics bureau reported Thursday. Food prices rose 2.2% during the quarter. Alcoholic beverages and tobacco prices climbed 4%. Compared to the same period a year ago, CPI inflation rose 2.2%, following a 1.3% increase in the fourth quarter. The annual increase was driven by housing and transport, which rose 3.3% and 3.5%, ... (full story)