NZ first-quarter inflation meets Reserve Bank forecast at 0.2% on tobacco excise, food, housing

Sun, 17 Apr 2016

By Jonathan Underhill April 18 (BusinessDesk) - New Zealand recorded inflation that met the Reserve Bank’s forecast in the first quarter, as an increase in tobacco tax, food and housing-related costs offset the impact of low fuel prices. The consumers price index rose 0.2 percent in the first quarter, for an annual increase of 0.4 percent, Statistics New Zealand said. The biggest contribution to inflation in the quarter and the year was the 10 percent annual increase in the excise on tobacco, the last scheduled increase. The New Zealand d...

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