CPI inflation in New Zealand drops to six.7 per cent
Headline inflation in New Zealand has fallen to six.7 per cent within the 12 months to March.
Stats NZ launched up to date shopper worth index (CPI) information on Thursday, displaying a welcome fall from the earlier results of 7.2 per cent measured within the 12 months to December 2022.
Nonetheless, inflation stays doggedly excessive.
“Inflation remains to be at ranges not seen for the reason that Nineteen Nineties,” Stats NZ spokeswoman Nicola Growden stated.
The 6.7 per cent determine was under business expectations and can increase hopes inflation in New Zealand peaked final yr.
The Reserve Financial institution of New Zealand has relentlessly attacked runaway inflation, mountain climbing the official money charge to five.25 per cent.
Mortgage holders shall be hoping the softer-than-expected end result from Stats NZ causes the central financial institution to carry hearth on additional rate of interest hikes.
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