New Zealand Near-Term Inflation Expectations Highest Since 2023

New Zealand near-term inflation expectations climbed to the highest since 2023 as soaring fuel prices are seen fanning overall prices across the economy.

One-year ahead expectations rose to 3.41% from 2.59% in the first quarter, according to a Reserve Bank report Wednesday in Wellington. That’s the highest in 10 quarters back to the final three months of 2023. Two-year ahead inflation expectations rose to 2.5%, which was also the highest in 10 quarters.