Consumer prices have risen 1.2 percent in the first three months of the year, driving food and housing costs, with the annual inflation rate falling to 6.7 percent, well below expectations.
The Consumers Price Index released in January showed prices rose 1.4 percent for the three months ended December, an annual inflation rate of 7.2 percent.
Food price inflation has been in double figures for months, and recorded a 12.1 annual increase in the year to March, the biggest jump since 1989.
The rising cost of living is already causing many New Zealanders to experience a serious financial pinch.
More to come ...