Weak oil, food prices make RBNZ's forecast for rebounding inflation a stretch target

Fri, 15 Jan 2016

By Jonathan Underhill Jan. 15 (BusinessDesk) - Crude oil prices have dropped by about a fifth since the Reserve Bank's monetary policy statement on Dec. 10, and figures today showed weaker food prices, casting doubt on the bank's projection for a rebound in inflation in the first quarter. Food prices fell 2.2 percent in the fourth quarter, while the annual decline of 1.3 percent was the biggest drop since July 2012, government figures today showed. Brent crude sank below US$30 a barrel this week for the first time in almost 14 years. Crud...

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