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Petrol Prices Dominate CPI
Petrol Prices Dominate CPI
The Consumers Price Index (CPI) decreased 0.2 percent in the December 2006 quarter, Statistics New Zealand said today. Petrol made the most significant downward contribution to the CPI this quarter.
Transport prices were down 3.9 percent in the December 2006 quarter, with the most significant contribution coming from petrol prices (down 15.2 percent), while higher prices for international air transport (up 9.7 percent) partly offset this decrease. If petrol prices had not changed from the September 2006 quarter, the CPI would have increased 0.6 percent in the December 2006 quarter.
Housing and household utilities prices were up 0.9 percent in the December 2006 quarter, with the most significant increases coming from actual rentals for housing (up 0.7 percent) and purchase of new housing (up 1.0 percent).
Recreation and culture prices increased 1.5 percent in the December 2006 quarter, due to the price increase for package holidays (up 10.5 percent).
Over the 12 months to the December 2006 quarter, the CPI increased 2.6 percent, down from 3.5 percent for the year to the September 2006 quarter.
ENDS
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