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Tokyo inflation rate at 22-year high

Tokyo consumer prices rise at their fastest pace in 22 years, surging 2.7% over a year, pointing to a likely increase in inflation across Japan.

The UK's inflation rate fell to a fresh four-year low in February, driven by a drop in the price of petrol.

The kiwi traded at 83.09 US cents at 8am from 83.21 cents yesterday, holding on to most of yesterday's gain.

The UK's inflation rate, as measured by the Consumer Prices Index, falls to 2% for the first time in four years.

The UK's inflation rate fell to the Bank of England's target of 2% last month for the first time since November 2009.

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