Price of return airfares, the largest contributor to Consumer Price Index

The price of return airfares from Niue to New Zealand has been the largest contributor to the Consumer Price Index quarter ending June 2020.

This is according to the latest report from the Statistics and Immigration Office which states that the transport of individuals, groups and luggage by aeroplane and helicopter was the largest positive contributor by 0.60%.

The largest negative contributor to the Consumer Price Index was the price of margarine, including diet margarine, a -0.15%.

Consumer Price Index measures changes in the prices of goods and services that households consume. Such changes affect the real purchasing power of consumers’ incomes and their welfare.

There has been a slight increase in inflation from March to the June quarter this year from 1.2% to 1.38% for the Quarterly record.

Annually inflation in March states 2.3% to 2.99% in June.