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Downward movement of apparel & footwear in March CPI

Apr '06
Statistics New Zealand released the Consumers Price Index (CPI) for March 2006.

It stated that the March CPI rose 0.7 percent in the March 2006 quarter. The CPI rose 3.4 percent from the March 2005 quarter to the March 2006 quarter.

The Consumers Price Index (CPI) recorded a 0.7 percent increase in the March 2006 quarter. This follows increases of 0.7 percent and 1.1 percent in the December 2005 and September 2005 quarters, respectively.

The most significant individual upward contributions to the movement in the CPI came from price increases for petrol (up 5.1 percent) and the purchase and construction of new dwellings (up 1.0 percent). The most significant individual downward contribution came from lower prices for international air travel (down 12.3 percent).

From the March 2005 quarter to the March 2006 quarter the CPI rose 3.4 percent. This
compares with rises of 3.2 percent in the year to the December 2005 quarter and 3.4 percent in the year to the September 2005 quarter.

The most significant upward contributions came from the housing group (up 5.4 percent) and the transportation group (up 6.4 percent). This is the fifteenth consecutive quarter that the housing group has made the most significant upward contribution to the annual movement.

In the March 2006 quarter, the non-tradable component increased 1.0 percent, following a 1.0 percent increase in the December 2005 quarter. The tradable component decreased 0.1 percent in the March 2006 quarter, following an increase of 0.5 percent in the December 2005 quarter.

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