• Winston Peters

Treasurer Winston Peters today welcomed the latest quarterly CPI result which showed annual CPI inflation down to 1 per cent, its lowest level for four years.

"This is a good result. It is particularly encouraging to see the CPI record the smallest annual increase since the March 1993 quarter.

"The 2.7% fall in the mortgage interest rates for the quarter was also welcome news as it is the fourth consecutive quarter that the mortgage interest rates have recorded a decrease," Mr Peters said.

Mr Peters also noted the fall in health care costs.

"In this category of the CPI, GP fees were down 5% which is due to the Coalition Government's policy of free doctor's visits for children under six," he said.