NZ inflation data for second quarter unlikely to fuel rate hike prospects

Fri, 12 Jul 2013

July 12 (BusinessDesk) – New Zealand’s annual inflation may have returned to 14-year lows in the second quarter as a record high currency weighed on prices of imported clothing, competition drove down telecommunications costs and fuel costs fell. The consumer price Index rose 0.3 percent in the second quarter for an annual pace of 0.8 percent, according to a Reuters survey of 10 economists and the Reserve Bank’s latest estimates. The annual rate would match the level of the third quarter last year, which was the lowest since the final quart...

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