Low oil prices drove New Zealand’s consumer price inflation down by 0.5 per cent over the June quarter, making for a modest 1.5 per cent gain over the June year. The quarterly drop was in line with market expectations. Westpac analysts said, “We think that weak demand will trump supply-side disruptions over the medium term, leading to lower inflation pressures, and the economy is likely to remain below full employment for years to come.” #Newzealand#