India, April 17 -- New Zealand inflation accelerated for the first time in nearly three years in the first quarter but it remained well within the central bank target, official data showed on Thursday.
Consumer price inflation rose to 2.5 percent in the first quarter from 2.2 percent in the preceding period, Sats NZ reported.
Inflation accelerated for the first time since mid-2022. Inflation was seen at 2.3 percent in the first quarter.
"The annual inflation rate is within the Reserve Bank of New Zealand's target band of 1 to 3 percent for the third consecutive quarter," prices and deflators spokesperson Nicola Growden said.
The largest contributor to the annual inflation was rent, which rose 3.7 percent. Meanwhile, lower petrol prices ...