New Zealand inflation 3.2 per cent last year

Business Materials 17 January 2008 02:50 (UTC +04:00)

( dpa )- New Zealand's inflation rate was 3.2 per cent last year, according to official figures released on Thursday.

The Consumers Price Index (CPI) increased 1.2 per cent in the October-December quarter, with rising petrol prices and air fares mainly responsible for the increase, Statistics New Zealand said.

The quarterly rise boosted inflation for 2007 to 3.2 per cent, well up on the 1.8 per cent recorded for the 12 months ending with the September quarter.

Housing, household utilities, transport and food were the biggest contributors to the annual increase.