Inflation unexpectedly weakened at the end of 2017, with lower retail prices offsetting a sharp rise in petrol prices. Statistics New Zealand said on Thursday that the consumer price index (CPI) lifted by 0.1 per cent in the final three months of 2017, below the 0.4 per cent rise economists were expecting. The increase was lower than the rise at the end of 2016, meaning annual inflation dropped to 1.6 per cent, the lowest in annual rate in 12 months. At the end of September, inflation was 1.9 per cent. A sharp rise in petrol at the end of 2017 boosted the transport component of inflation, while construction prices ... (full story)