NZ consumer prices rise at fastest annual pace in 2 1/2 years; kiwi gains

Wed, 25 Jan 2017

By Paul McBeth Jan. 26 (BusinessDesk) - New Zealand consumer prices rose at their fastest annual pace in two-and-a-half years in the final three months of 2016 as a recovery in global oil prices pushed up the cost of petrol, and the nation's bubbling property market continued to drive up house prices. The kiwi dollar rose above 73 US cents. The consumers price index rose 0.4 percent in the three months ended Dec. 31 for an annual pace of 1.3 percent, Statistics New Zealand said. That was the fastest annual pace since June 2014 and the fir...

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