New Zealand's annual inflation rate dropped to 4% in March, from 4.7% in December, albeit rents, house construction costs and council rates continued rising. The Consumers Price Index (CPI) increased just 0.6% in the March quarter, up from 0.5% in the previous period. The CPI measures changes in the prices paid by households for goods and services which provides insight into inflationary trends in NZ’s economy. Statistics NZ said on Wednesday the price increases in the March quarter were the smallest since June 2021. “However, they remain above the Reserve Bank of New Zealand’s target range of 1% to 3%,” Stats NZ ... (full story)