The Independent just reported (Jan. 20) that "a bizarre creature that appears to be a fish with legs has been found in New Zealand."
But other recent news will likely have a far greater impact on the nation's nearly 4.5 million residents.
Here's a Jan. 20 headline from the Sydney Morning Herald:
New Zealand on cusp of 'outright deflation'
New Zealand saw a dramatic drop in consumer prices from 2011 through mid-2013. The nation's CPI then trended slightly higher through mid-2014, but has since slid below the mid-2013 bottom.
The latest consumer price data could prove to be a "game changer" for the Reserve Bank of New Zealand.
Read this excerpt from the above mentioned Sydney Morning Herald story:
New Zealand is on the cusp of annual deflation for the first time since 1999 after consumer prices dropped by a surprisingly large 0.5 per cent over the December quarter, in what could prove a "game-changer" for the Kiwi central bank, economists said.
The weak quarterly number pushed year-on-year CPI growth to a mere 0.1 per cent, well short of the Reserve Bank of New Zealand's (RBNZ) 2 per cent inflation target. …
A 1.8 per cent slump in tradeable prices drove the weak quarterly CPI number, particularly for vegetables and fuel, where a stronger Kiwi dollar over the period played a part in depressing prices. Domestic prices rose by 0.5 per cent, or by 1.8 per cent year-on-year, thanks to higher housing and airfare costs.
"With dairy prices still sliding, and 2 per cent inflation more elusive than ever, we expect a genuine easing bias" from the RBNZ next week, TD Securities economist Annette Beacher said.
You can read the entire story by following the link below: http://www.smh.com.au/business/new-zealand-on-cusp-of-outright-deflation-20160120-gm9oma.html