Petrol price falls main cause of second quarter of deflation

Sun, 19 Apr 2015

By Pattrick Smellie April 20 (BusinessDesk) - Falling petrol and diesel prices were the major factor leading to a 0.3 percent fall in inflation during the first three months of this year, the second quarter in a row of deflation. The annual inflation rate for the year to March 31 was 0.1 percent. However, if the rise in petrol prices seen late in the quarter and into this month is sustained, transport fuels will have an upward impact on inflation in the June quarter, Statistics New Zealand said. The Consumers Price Index outcome was...

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