CPI falls 0.2 percent in December quarter, NZ dollar plunges

Thu, 17 Jan 2013

Jan. 18 (BusinessDesk) - The consumer price index (CPI) fell unexpectedly by 0.2 percent in the last three months of last year, raising the likelihood of either a central bank interest rate cut or a longer period of current historic low interest rates. The New Zealand dollar immediately fell on the announcement at 10.45 am to 83.52 US cents from 84.15 cents just prior to the release. Market expectations had been for a 0.1 percent increase. The annual inflation rate for calendar 2012 was 0.9 percent, up from 0.8 percent in the year to Septemb...

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