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New Zealand CPI Hits Five-Year High 2.2% In Q1

Consumer prices in New Zealand climbed 2.2 percent on year in the first quarter of 2017, Statistics New Zealand said on Thursday.

That topped forecasts for a gain of 2.0 percent following the 1.3 percent increase in the previous three months.

Housing and household utilities increased 3.3 percent on year.

On a seasonally adjusted quarterly basis, consumer prices were up 1.0 percent - again exceeding forecasts for 0.8 percent and up from 0.4 percent in the three months prior.

Food prices rose 2.2 percent, influenced by higher prices for fruit (up 16 percent).

by RTTNews Staff Writer

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