New Zealand Inflation Accelerates to 4.1%, Reinforcing Reserve Bank Rate Hikes
New Zealand’s second-quarter consumer price index rose 4.1% year on year, topping a forecast of 4.0%. The quarterly reading increased 1.5%, ahead of a projected 1.4%.
Soaring fuel costs pushed headline inflation to a more than two-year high, while non-tradable prices climbed 3.4% annually. The data bolsters the Reserve Bank’s recent decision to start lifting rates, sending the NZ dollar up to $0.5843.
From the sources (6 posts)
@financialjuiceNZ Q2 consumer price index non-tradables rise 3.4% year-over-year
@financialjuiceNZ Q2 consumer price index non-tradables rises 0.6% versus previous quarter
@financialjuiceNew Zealand Q2 consumer price index rises 1.5% vs previous quarter (Poll: 1.4%)
@financialjuiceNZ Q2 consumer price index rises 4.1% year on year, polls projected 4.0%
@financialjuiceNZ dollar rises slightly to $0.5843 after CPI data
@businessNew Zealand’s annual inflation accelerated to a more than two-year high in the second quarter, driven by soaring fuel prices and reinforcing the Reserve Bank’s decision to begin raising interest rates