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Fuel and rent drive inflation
The consumers price index (CPI) rose 0.6 percent in the June 2019 quarter, due to higher prices for petrol and rent, Stats NZ said today. In the year to June 2019, the inflation rate was 1.7 percent, up from 1.5 percent in the March 2019 year. Petrol prices rose 5.8 percent in the June 2019 quarter after a 7.0 percent fall in the March 2019 quarter. The average price of 91 octane petrol was $2.13 a litre this quarter, up from $2.01 last quarter, but still under its peak of $2.18 in the September 2018 quarter. “Petrol prices rose slowly over the first part of the quarter, reaching a peak in late May and then ... (full story)