Bureau of Statistics New Zealand said that consumer prices for the first three-month period ended March fell by 0.2% from the previous quarter, compared with the previous publication which showed a 0.3% decline. The consumer price index for the first quarter rose by 0.3% from a year ago, versus the previous publication which rose 0.1%.
Meanwhile, for the second three-month period ending in June, the consumer price index for the quarterly rate unchanged at 0.4%, but for the increase in the annual rate was revised to 0.4% from 0.3% in the previous report.
Reserve Bank of New Zealand said it would keep the annual inflation rate in the range of 1% to 3%. The central bank is expected by most economists will cut interest rates by 0.25% on Thursday became 2.75% as they attempt to inflate inflation sluggish.
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