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CPI preview: Inflation’s easing, but not as quickly as the RBNZ expected in February
We expect that New Zealand consumer prices will rise by 0.8% in the March quarter. That would see the annual inflation rate dropping to 4.2%, down from 4.7% at the end of 2023. • Inflation is likely to be stronger than the RBNZ assumed at the time of their February Monetary Policy Statement. • While inflation pressures are easing, that decline is occurring gradually, with measures of core inflation lingering at levels above the RBNZ’s target range. Notably, we’re still seeing strong price increases in parts of the domestic economy. We expect the March quarter inflation report (out on 17 April) will show that ... (full story)