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The Bank stated that it will 'look through' the impact on inflation attributable to the embrace GST, the Emissions Trading Scheme, plus other related tax replacements. The Bank forecasts that an additional 2.7% tend to be added to inflation a result of these former factors, more than Consumer Price Index crowning at 7.8% in June 2011. Taking aside these factors, the underlying inflation rate would be 2.1%.
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