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New Zealand CPI Adds 0.1% In Q4

Consumer prices in New Zealand were up a seasonally adjusted 0.1 percent in the fourth quarter of 2013 compared to the previous three months, Statistics New Zealand said on Tuesday.

That surpassed forecasts for a flat reading following the 0.9 percent jump in the third quarter.

Higher international air fares and rising housing and dairy prices were partly countered by lower vegetable prices and cheaper petrol in Q4, the statistics bureau said.

On a yearly basis, inflation climbed 1.6 percent - also topping expectations for an increase of 1.5 percent and up from 1.4 percent in the previous three months.

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