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Longest run of negative inflation in six years

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INFLATION came in below zero for the seventh consecutive month in May - the longest run of negative inflation in six years.

The consumer price index fell 0.4 per cent last month amid lower oil prices, a soft housing rental market and Budget measures kicking in.

This followed a 0.5 per cent decline in April.

The latest bout of negative inflation is largely the result of cheaper oil and loan curbs that have dampened the property and car markets.


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