Higher accommodation prices contribute to inflation

Higher prices for domestic accommodation, building a new home, and used cars led to a 0.5 percent lift in the consumers price index in the December 2020 quarter, keeping annual inflation at 1.4 percent, Stats NZ said today. On a quarterly basis, domestic accommodation services were the top contributor to the CPI increase, up 20 percent in the December 2020 quarter, despite the impact of the COVID-19 pandemic on international tourism. Annually, prices for domestic accommodation services increased 6.2 percent. “Domestic accommodation services include prices for hotels, motels, caravan parks and camping … (full story)

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