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NZ Inflation update: Swiftflation pushing prices above the RBNZ’s forecast
We expect that the March quarter inflation report (due for release on 17 April) will show that consumer prices rose 0.8% in the first three months of the year. That would see the annual inflation rate dropping to 4.2%, down from 4.7% at the end of 2023 and the lowest annual inflation has been since 2021. This updated forecast is slightly higher than our previous published forecast for a 0.7% quarterly rise, reflecting updates in Stats NZ’s February Selected Prices update. Inflation is dropping back as demand cools. That’s been seen most clearly in the retail sector, with the prices for many imported consumer ... (full story)