New Zealand's consumer inflation was in line with expectations in the fourth quarter and while it continues to track towards the central bank’s target range of 1% to 3% domestic inflation remains high. Annual inflation was 4.7% in the fourth quarter, slower than the 5.6% in the third quarter, Statistics New Zealand said in a statement on Wednesday. It is now at its lowest level since the middle of 2021. The consumer price index (CPI) rose 0.5% quarter-on-quarter, slower than the 1.8% rise in the third quarter. The data was in line with economists’ expectations in a Reuters poll and there was no market reaction. The ... (full story)