Inflation rate holds steady at 3.1% in year to March

Inflation's remained unchanged in the March quarter. Latest Stats NZ data shows the Consumers Price Index increased 3.1% in the year to March following a 3.1% increase in the year to December. The Reserve Bank had expected inflation would come in at 3% - the very top-end of its 1-3% target range. Economists' forecasts ranged between 2.8% 3.1%. Our surging fuel prices are expected to cause a sharp spike in inflation in the current June quarter. More to come

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