Inflation just 1.6% in 2017

Stats NZ reports:

Prices rose 0.1 percent in the December 2017 quarter, Stats NZ said today. Higher petrol prices, air fares, and housing-related costs were countered by lower prices for vegetables, new cars, and a range of household goods.

The relatively flat result this quarter leaves the consumers price index (CPI) inflation rate at 1.6 percent for the December 2017 year. Inflation was 1.9 percent for the September 2017 year.

Inflation robs money of people on fixed incomes. It is good to see it remained low in 2017. I hope it remains so in 2018.