New Zealand Inflation Down to 1.8% in Q4

In the year to the December 2011 quarter the CPI rose 1.8 percent. This compares with a 4.6 percent rise for the year to the September 2011 quarter. Unlike the previous four quarters, the latest annual increase does not include most of the effects of the GST increase that occurred in October 2010.

On an annual basis, petrol prices increased 11 percent. Also rising were cigarettes and tobacco (up 9.4 percent), housing rentals (up 2.0 percent), second-hand cars (up 5.1 percent), and local authority rates (up 4.6 percent).

The consumers price index (CPI) fell 0.3 percent for the December 2011 quarter due to 25 percent decrease in vegetable prices.

The larger-than-usual fall for vegetables reflects a supply shortage in the three months to September.Prices were also lower for telecommunication services, furniture, kitchenware, and appliances. These falls were partly countered by rises in international air fares and petrol.

New Zealand Inflation Down to 1.8% in Q4, Statistics New Zealand
1/19/2012 7:18:29 PM