(File photo)
Photo: RNZ
Inflation was steady in the first three months of the year.
Stats NZ numbers show annual inflation was at 3.1 percent in the three months ended March, unchanged from the December quarter.
The numbers don’t fully capture the impact on prices from the Middle East conflict.
The greater effect of the surge in fuel costs was expected to be felt in the three months ended June, according to economists, when the inflation rate was forecast to be headed towards 5 percent.
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