Reserve Bank of New Zealand Bulletin, Dec 2005

The Reserve Bank of New Zealand published the December 2005 issue of its Bulletin on 20 December. The latest issue includes an article which looks at the importance of oil to the New Zealand economy and the various ways in which oil prices may affect inflation.

The article finds that New Zealand's oil consumption is relatively high in relation to the size of the economy, increasing the country's potential sensitivity to an oil price shock. However, any inflationary effects will depend on a range

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