NZ consumer prices rise 0.4% in second quarter, missing estimates; kiwi dollar drops

Sun, 17 Jul 2016

By Paul McBeth July 18 (BusinessDesk) - New Zealand consumer prices rose less than expected in the June quarter as cheaper meat and domestic airfares offset a recovery in petrol prices, adding pressure on the Reserve Bank ahead of its unscheduled economic update on Thursday. The kiwi dollar dropped. The consumers price index rose 0.4 percent in the three months ended June 30, accelerating from a 0.2 percent increase in the first quarter, Statistics New Zealand said. That was below the Reserve Bank's forecast for a rise of 0.6 percent. On...

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