We study the relationship between postulation and reduction vectors of admissible multigraded filtrations $\mathcal{F}= \{\mathcal{F} (\underline{n})\}_{\underline{n} \in \mathbb{Z} ^s}$ of ideals in Cohen-Macaulay local rings of dimension at most two. This is enabled by a suitable generalization of the Kirby-Mehran complex. An analysis of its homology leads to an analogue of Huneke's fundamental lemma which plays a crucial role in our investigations. We also clarify the relationship between the Cohen-Macaulay property of the multigraded Rees algebra of $\mathcal{F} $ and reduction vectors with respect to complete reductions of $\mathcal{F} $.
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