New Zealand CPI at 0.7 Percent

July 18, 2013 New Zealand Finance

Cost of goodsNew Zealand’s CPI has fallen to the lowest level in 13 years.

On July 16th Statistics New Zealand released a new statement showing that the Consumer Price Index (CPI) over the year ending June 2013 was only 0.7 percent, the lowest level since 1999.

Over the course of the year, the most significant contributors to the overall price increase were a 2.6 percent increase in electricity costs, a 7 percent hike in vegetable prices, and a 1.7 percent and a 0.4 percent rise in the costs of purchasing and renting housing respectively.

The price of fruit over the year was the biggest drop, falling by 5.5 percent, followed by petrol and second hand cars, which decreased by 2.5 percent and 1.9 percent respectively.

Photo by Sandy Austin