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New Zealand Inflation Sinks 0.5% In Q2

Consumer prices in New Zealand were down 0.5 percent on quarter in the second quarter of 2020, Statistics New Zealand said on Thursday - in line with expectations following the 0.8 percent increase in the three months prior.

Seasonally adjusted, prices fell 0.4 percent on quarter.

Individually, transport fell 4.9 percent, influenced by lower prices for petrol (down 12 percent seasonally adjusted), while food prices rose 1.1 percent, influenced by higher vegetable prices (up 16 percent) and housing and household utilities rose 0.6 percent, influenced by higher prices for rentals for housing (up 0.6 percent)

On a yearly basis, inflation advanced 1.5 percent - again in line with estimates and dropping from the 2.5 percent gain in the previous three months.

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