Tepid NZ inflation keeps pressure off RBNZ so long as construction costs remain contained

Tue, 16 Jul 2013

By Paul McBeth July 16 (BusinessDesk) - The lowest annual pace of inflation in 14 years is relieving pressure on the Reserve Bank to have to raise interest rates this year, as rising construction costs stay contained. The consumer price index rose 0.2 percent in the three months ended June 30, just shy of the 0.3 percent expected in a Reuters survey of economists, for an annual pace of 0.7 percent, according to Statistics New Zealand. That’s the fourth quarter that the annual pace has been below the Reserve Bank’s target 1 percent to 3 perc...

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