New Zealand sees annual inflation at 5.6 pct

STORY: New Zealand sees annual inflation at 5.6 pct DATELINE: Oct. 17, 2023 LENGTH: 00:01:37 LOCATION: Wellington CATEGORY: ECONOMY SHOTLIST: 1. various of ports 2. various of streets STORYLINE: New Zealand's consumer price index increased 5.6 percent in the 12 months to the September 2023 quarter, according to the statistics department Stats NZ on Tuesday. The 5.6 percent increase follows a 6 percent increase in the 12 months to the June 2023 quarter, Stats NZ said. "Prices are still increasing, but are increasing at rates lower than we have seen in the previous few quarters," Stats NZ consumers prices senior manager Nicola Growden said. Food was the largest contributor to the September 2023 quarter annual inflation rate, Growden said, adding this was due to rising prices for ready-to-eat food; milk, cheese, and eggs; and bread and cereals. The next largest contributor to the annual increase was housing and household utilities, which was due to rising prices for construction and rents, Gro