The New Zealand dollar fell yesterday with cheap oil and the resulting lower petrol prices keeping inflation low.
The dollar dropped to 63.78 US cents at 5 pm in Wellington from 64.70 cents. Between Tuesday and 5 pm Wednesday the dollar fell from 74.62 Yen to 75.57 Yen, and to 58.25 Euro cents from 59.06 Euro cents. It was unchanged against the British pound.
The inflation result was shown in newly released Consumer Price Index date from Statistics New Zealand.
Petrol prices (down 8.1%) made the largest downward contribution for the year. Excluding petrol, the CPI showed a 0.5% increase in the year to the December 2015 quarter.
The small movement for the year was also influenced by both lower vehicle relicensing fees and international air fares.
