NZ consumer prices rise 0.3 percent in 1Q on tobacco tax hike, more expensive housing

Tue, 15 Apr 2014

By Paul McBeth April 16 (BusinessDesk) - New Zealand consumer prices rose less than expected in the first quarter as a hike in tobacco taxes and more expensive housing were offset by cheaper international holidays and in-season vegetables. The kiwi dollar dropped on the data. The consumers price index rose 0.3 percent in the three months ended March 31, accelerating from a quarterly rate of 0.1 percent in the fourth quarter of 2013, according to Statistics New Zealand. That was slower than the 0.5 percent pace predicted by the Reserve Bank an...

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