In the March 2012 quarter compared with the December 2011 quarter:
- The consumers price index (CPI) rose 0.5 percent.
- The main upward contribution came from the alcoholic beverages and tobacco group (up 4.7 percent), reflecting an increase in the excise duty for cigarettes and tobacco.
- Prices for the housing and household utilities group rose 0.7 percent, reflecting higher rentals for housing.
- Recreation and culture prices fell 2.4 percent, reflecting seasonally lower prices for package holidays.
From the March 2011 quarter to the March 2012 quarter:
- The CPI increased 1.6 percent. This follows a 1.8 percent increase for the year to the December 2011 quarter.
The CPI measures the rate of price change of goods and services purchased by households. Statistics NZ visits 3,000 shops around New Zealand to collect prices for the CPI and check product sizes and features.
|19 April 2012