New Zealand: Inflation inches up in Q2
July 16, 2014
Consumer prices rose 0.3% over the previous quarter in Q2, which matched the result tallied in the first quarter. The reading came in slightly below market expectations of a 0.4% price increase. According to the statistical institute, higher prices for housing and vegetables were partly offset by lower prices for package holidays, cars and fruits.
Annual headline inflation inched up from 1.5% in Q1 to 1.6% in Q2. Consequently, inflation still remains within the Reserve Bank of New Zealand’s 1.0%–3.0% target range.