Gasoline, veggies push New Zealand inflation up along with cost of living
AFPWELLINGTON -- New Zealand's annual inflation rate rose to 1.4 percent in the 12 months to September, official data showed Wednesday, as higher petrol and vegetable prices pushed up the cost of living.
October 17, 2013, 12:03 am TWN
Statistics New Zealand (SNZ) said inflation was 0.9 percent in the July-September quarter, well up on the 0.2 percent posted in the previous quarter but in line with market expectations.
The result brought the on-year figure to 1.4 percent, at the lower end of the Reserve Bank's 1.0-3.0 target range.
SNZ prices manager Chris Pike said petrol rose 5.6 percent over the quarter and vegetables were up more than 20 percent, accounting for the bulk cost increases over the three-month period.