The central bank, meanwhile, had forecast inflation of 0.3 per cent in the first quarter for an annual rise of 1.5 per cent. "Rising petrol prices along with the annual rise in cigarette and tobacco tax lifted inflation," prices senior manager Jason Attewell said. Petrol prices rose 4.1 per cent in the quarter and were up 12 per cent on the year. Alcoholic beverages and tobacco prices rose 4 per cent on quarter in the March quarter, influenced by a 9.7 per cent increase in cigarette and tobacco prices. Non-tradeables inflation, which focuses on domestic inflation, rose 1 per cent on the quarter and was up 2.5 per cent on the year.

Source: New Zealand Herald April 19, 2017 23:03 UTC