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Inflation Rate in New Zealand Decreases but Remains Above Target

Inflation Rate in New Zealand Decreases but Remains Above Target

New Zealand's inflation, which measures how much prices are rising, has gone down to 4.7% at the end of the year, the lowest in over two years but st

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New Zealand’s inflation, which measures how much prices are rising, has gone down to 4.7% at the end of the year, the lowest in over two years but still higher than what the Reserve Bank wants. The biggest reasons for prices going up are higher costs for housing, food, and drinks. The government, led by Finance Minister Nicola Willis, is happy to see inflation decreasing but says more needs to be done to reduce costs for people. Some experts argue about whether the government is spending too much money and causing prices to rise.

https://www.stats.govt.nz/information-releases/consumers-price-index-december-2023-quarter/

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