Higher airfares and rents boost inflation

//Higher airfares and rents boost inflation

The consumers price index (CPI) rose 0.5 percent in the December 2019 quarter due to rising prices for both international and domestic airfares, rent, and petrol, Stats NZ said today. The annual inflation rate was 1.9 percent. Transport costs rose 2.1 percent in the December 2019 quarter. The rise in this group was largely driven by seasonal rises in international airfares, which increased 9.3 percent. “International airfares usually hit their seasonal peak in the December quarter,” prices senior manager Paul Pascoe said. “Over the last five years though, international airfares have generally trended downwards, … (full story)

2020-01-24T13:25:15+00:00