Video: Does a lower CPI make the OCR decision easier ?
20th Jan 09, 5:06pm
Consumer prices fell 0.5% in December quarter with annual inflation down to 3.4% from 5.1%, weaker than most economists and the RBNZ forecast. Petrol and diesel prices are down sharply and lower overall inflation appears to be good news for rates. But dig a bit deeper and the local components of inflation is still running strong.