– Inflation in New Zealand increased more than expected in the June quarter, driven by higher costs of food and petrol, Statistics New Zealand said Monday. Consumer prices rose 1 percent quarter-on-quarter, faster than the 0.8 percent increase in the March quarter.
The increase in the consumer price index, or CPI, reflects higher prices for petrol, food, air travel, and electricity, Statistics New Zealand manager Chris Pike said.
The concern for Reserve Bank officials now will be that, following the elevated quarterly second quarter CPI result, headline inflation likely will be above the central bank’s 1-3 percent target zone by year-end, said Helen Kevans, an economist at J.P.Morgan.
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– The number of building permits issued in New Zealand was up 2.2 percent in May compared to the previous month, Statistics New Zealand said on Thursday – shy of expectations for a 3.2 percent increase following the revised 1.2 percent contraction in April.
Canterbury had the largest increase in new homes of New Zealand’s 16 regions, up 14 to 251 homes in May 2011, compared with May 2010. The number of new homes authorized in the North Island fell by almost a quarter, while the South Island remained at a similar level.
Fewer new homes were authorized in 10 of the 16 regions, with the biggest decreases recorded in Auckland , Wellington , Waikato , and Taranaki .
The value of non-residential building consents increased by $52 million in May 2011 compared with May 2010.
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“While some countries have seen H1N1 virus decline or crowded out by other strains, this is not the case in New Zealand,” the deputy director of public health, Darren Hunt, said.
Four people are believed to have died from swine flu in New Zealand this year. Hunt said there had been “significant outbreaks” in some areas of New Zealand, which had resulted in high levels of absenteeism from work and school and higher than normal hospital admissions.
“The pandemic influenza strain is the predominant strain circulating this winter,” he said. “We are see
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