Food and fuel price shocks possible, says NZIER

Tue, 28 Aug 2012

Aug. 28 (BusinessDesk) - Sharply higher prices for oil and basic foods could see prices rising at the supermarket in New Zealand by early next year, says the New Zealand Institute of Economic Research in its latest quarterly predictions. The independent economic agency sees the economy growing on 1.7 percent this year, on-trend with the Treasury's May Budget forecast of 1.6 percent, and says while New Zealand is showing signs of economic recovery, world events threaten that outlook. "The biggest risk to the outlook is from a slowing economy,"...

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