NZ: CPI rose 0.1% in the last quarter of 2017

"Prices rose 0.1 percent in the December 2017 quarter," Stats NZ reported on Thursday.

Key highlights

Higher petrol prices, air fares, and housing-related costs were countered by lower prices for vegetables, new cars, and a range of household goods.

The relatively flat result this quarter leaves the consumers price index (CPI) inflation rate at 1.6 percent for the December 2017 year.

Inflation was 1.9 percent for the September 2017 year.Inflation is a key measure for the Reserve Bank in setting interest rates and is commonly used in adjusting pay rates and other contracts.