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NZ Consumer Price Index: Inflation increases to 3 percent, highest level in year
Inflation has edged to a 15-month-high on the back of higher rents, rates, electricity, and food, touching the top of the Reserve Bank's target band but unlikely to prevent further rate cuts. Stats NZ said the consumer price index rose 1.0 percent in the three months ended September, pushing the annual rose to 3.0 percent from 2.7 percent, the highest since June last year. The 11.3 percent rise in electricity prices was the single biggest contributor to the annual increase. "Annual electricity increases are at their highest since the late 1980s, when there were several major reforms in the electricity ... (full story)
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