In this regard, stronger fundamentals and a more ample policy space reinforces a virtuous circle that allows to attain better social outcomes. Finally, we live in an interconnected world with significant spillovers from country to country.
Average headline inflation using the new 2012-based Consumer Price Index (CPI) series rose to 4.8 percent during the quarter from 3.8 percent a quarter ago, bringing the year-to-date average to 4.3 percent. This is higher than the upper end of the National Government’s target range of 2-4 percent for the year.