New Zealand corrects third-quarter CPI due to processing error

[WELLINGTON] New Zealand's statistics bureau on Monday corrected its third-quarter consumer price index to 0.3 per cent, up from the 0.2 per cent it had originally reported.

Statistics New Zealand said the correction was required after it discovered a "manual processing error" in the way it calculated transport prices.

The correction put annual inflation at 0.4 per cent, up from 0.2 per cent, Statistics New Zealand said in a statement.

The non-tradable consumer price index rose 0.5 per cent on the quarter, corrected from the originally reported 0.3 per cent. Its annual rise was 2.4 per cent, not 2.1 per cent as previously reported.

REUTERS