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New Zealand housing costs lead annual 1.5 pct inflation: statistics
Last Updated: 2018-07-18 09:52 | Xinhua
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New Zealand's consumers price index (CPI) inflation rate was 1.5 percent in the June 2018, mainly influenced by higher prices for housing, the statistics department Stats NZ said on Tuesday.

This follows a 1.1 percent annual inflation rate in the March 2018. For the June 2018 quarter, the inflation rate was 0.4 percent, Stats NZ said.

The largest contributor to inflation was higher prices for housing and household utilities, up 0.9 percent this quarter, and 3.1 percent in the year to June 2018, it said.

"New Zealanders are paying more to keep their homes running," prices senior manager Paul Pascoe said in a statement.

Rates, property maintenance services, and home insurance are all higher than they were this time last year, Pascoe said.

Higher premiums, fire service, and earthquake levies across the year all contributed to an 18 percent increase in dwelling insurance in the June 2018, he said.

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