Cheaper petrol, accommodation through lockdown tames inflation

Thu, 16 Jul 2020

Cheaper petrol and accommodation slowed the annual pace of inflation through the covid-19 lockdown, more than offsetting price spikes in other consumer goods. The consumers price index shrank 0.5 percent in the three months ended June 30, slowing the annual pace of inflation to 1.5 percent from 2.5 percent in the March quarter, Stats NZ figures show. That was largely in line with what economists expected, with the slump in global oil prices and closed borders always going to be felt in fuel and hotel prices. “Today’s result does not al...

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