New Zealand Inflation Slows Amid Recession

New Zealand’s Consumer Prices rose 0.3% in the first three months of the year to bring the 12 month inflation rate down to 3%, bringing it within the Reserve Bank’s target for the metric. Amid growing unemployment and slowing consumer demand, the price of goods increased by less than that of the previous year. Recessionary situations have shed jobs which in turn increases the supply of labor available, bringing their wages and overall spending down.