NZ retailers offering cut-throat prices keeps lid on first-quarter inflation

Wed, 17 Apr 2013

By Paul McBeth April 17 (BusinessDesk) - New Zealand retailers kept a lid on first-quarter inflation as they slashed prices in a bid to attract cautious households unwilling to ramp up their spending. The consumers price index rose 0.4 percent in the March quarter, in line with expectations, and was held back by aggressive discounting of household appliances and clothing. About 22 percent of prices collected from clothing and footwear retailer was discounted in the quarter and 27 percent of household contents and services were marked down i...

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