NZ consumer prices rise 0.2 percent in 2Q as cheap petrol keeps lid on housing pressures

Mon, 15 Jul 2013

By Paul McBeth July 16 (BusinessDesk) - New Zealand inflation printed just below expectations in the second quarter, as cheap imported petrol helped counter rising housing related prices, pushing the annual rate to a 14-year low. The consumer price index rose 0.2 percent in the three months ended June 30, just shy of the 0.3 percent expected in a Reuters survey of economists, for an annual pace of 0.7 percent, according to Statistics New Zealand. That’s the fourth quarter that the annual pace has been below the Reserve Bank’s target 1 perce...

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