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New Zealand CPI Reaches Five-Year High 2.2% In First Quarter

Figures from the Statistics New Zealand on Thursday showed that the country's consumer prices rose an annual 2.2 percent in the first quarter of the year, up from the 1.3 percent gain in the previous period.

That also beat analysts' expectations for a 2.0 percent increase.

Housing and household utilities increased 3.3 percent on year.

Consumer prices rose 1.0 percent on quarter, beating the 0.8 percent forecast and up from 0.4 percent in the previous three months.

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