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The consumers price index (CPI) inflation rate was 0.2 percent in the September 2016 quarter, Statistics New Zealand said today. This follows inflation of 0.4 percent in the June 2016 quarter.
"Higher housing-related prices were countered by lower transportation prices," consumer prices manager Matt Haigh said.
Housing and household utilities prices rose 1.1 percent in the September 2016 quarter. This rise was influenced by higher prices for purchase of new housing, excluding land (up 2.0 percent), and local authority rates (up 3.0 percent).
Transport prices (down 3.0 percent) made the largest downward contribution for the latest quarter. Other private transport services fell 28 percent, reflecting cheaper vehicle relicensing fees implemented from 1 July. Petrol prices fell 1.7 percent, with the average price of a litre of 91 octane petrol at $1.75. Prices for new and used cars also fell.
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