Inflation & Prices
New Zealand Inflation Slows to Lowest Rate Since Early 2021
- Inflation rate of 2.2% now back inside RBNZ’s 1-3% target band
- Kiwi dollar falls as traders bet on another big rate cut
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New Zealand’s annual inflation rate fell sharply in the third quarter, returning to the central bank’s target band for the first time in more than three years.
The rate fell to 2.2% from 3.3% in the second quarter, Statistics New Zealand said Wednesday in Wellington. The result matched economists’ expectations while the Reserve Bank had forecast 2.3%. Consumer prices advanced 0.6% from three months earlier, less than the 0.7% estimate of economists.