Given how gloomy NZ stats have been, it was quite moronic for a such a high forecast of 0.6% CPI increase. What with the forecast having been consistently off for the last 4+ quarters too. What bozo pegged it so high??
The consumers price index (CPI) rose 0.4 percent in the June 2015 quarter, following falls of 0.3 percent in the March 2015 quarter and 0.2 percent in the December 2014 quarter. Petrol prices rose 8.8 percent in the latest quarter, influenced by higher international crude oil prices and a weaker New Zealand dollar. The average price of a litre of 91 octane petrol in the June 2015 quarter was $1.95, compared with $1.79 and $2.00 in the March 2015 and December 2014 quarters, respectively. By the end of the June quarter, petrol pump prices were 4.1 percent above the average price for the quarter. The CPI less petrol was ... (full story)