New Zealand consumer prices rise

Business

NEW Zealand consumer prices have risen at their fastest annual pace in five-and-a-half years in the first quarter of 2017 as rising fuel prices, a tax on cigarettes and tobacco and the hot housing market stoked inflation.
The kiwi dollar rose to US70.34 cents from US70.03c immediately prior to the Statistics NZ announcement on Thursday morning.
The consumers price index rose 1 per cent in the three months to March 31 for an annual pace of 2.2 per cent. It was highest annual increase since the September 2011 quarter. – AAP

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