The Survey of Expectations for this quarter was conducted following Stats NZ’s CPI release on 20th April 2023. The annual CPI inflation for the March 2023 quarter was measured at 6.7%, a decline from last quarter’s 7.2% annual inflation. Respondents’ expectations for one-year-ahead and two-year-ahead inflation have declined, while fiveand ten-year-ahead inflation expectations stayed within the 1-3% target inflation band (see Figure 1). One- and two-year-ahead The mean one-year-ahead inflation expectation decreased from 5.11% to 4.28%, 83 basis points lower than the last quarter. This was the largest drop recorded ... (full story)

1-year inflation 4.17% versus 4.28% last quarter. • 2-year inflation expectation 2.83% versus 2.79% last quarter. • 5-year inflation expectation versus. • monetary conditions current 90% versus 84.38% last quarter. • monetary conditions next quarter 90.0% versus 84.3% last quarter. • monetary conditions one year 53.33% versus 50.0% last quarter. (full story)