Inflation surprises with 1.3pc rise, dollar jumps
Page 1 of 2 ..... 12:30PM Thursday Oct 15, 2009

New Zealand's inflation rate rose an unexpectedly strong 1.3 per cent in the September quarter, taking the annual rate to 1.7 per cent.

Publishing the data today, Statistics New Zealand (SNZ) said the annual rise was the lowest in 5-1/2 years.

SNZ prices manager Chris Pike said the rise in the September quarter was driven by higher food prices and international airfares, and by levy, excise and tax rises that usually happened at this time of year.

The 1.3 per cent rise in the September quarter followed rises of 0.6 per cent and 0.3 per cent in the June and March quarters, respectively, and a fall of 0.5 per cent in the December quarter.

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