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New Zealand annual inflation at 15-year low

The cost of living in New Zealand fell for the second consecutive quarter, according to official dataNew Zealand’s annual inflation rate eased to 0.1 percent in the 12 months to March, the lowest in 15 years, official data showed on Monday. The cost of living actually fell for the second consecutive quarter, off 0.3 percent in the January-March period largely due to declining petrol prices, Statistics New Zealand said. “The fall in the March quarter CPI (inflation), which last happened in 2001, was caused by an 11 percent fall in petrol prices,” SNZ prices manager Chris Pike said.

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