In the fourth quarter of 2013, New Zealand inflation rate accelerated to an annual 1.6 percent, the highest annual rise since the March 2012 quarter.
Almost half of the increase came from housing and household utility prices, which increased 3.2 percent. There were increases across the board: purchase of newly built houses (up 4.7 percent), housing rentals (up 2.1 percent), property maintenance (up 4.3 percent), household energy (up 2.4 percent), and property rates and related services (up 4.1 percent).
Cigarette and tobacco prices (up 12 percent) continue to affect the annual increase, reflecting a rise in excise duty in January 2013.
The main downward contribution came from cheaper audio-visual and computing equipment (down 10 percent). Telecommunication services and car prices also fell.
Prices rose 0.1 percent in the December 2013 quarter. Higher international air fares and rising housing and dairy prices were partly countered by lower vegetable prices and cheaper petrol.
1/20/2014 9:52:24 PM