New Zealand inflationary pressures continued to ease in the March quarter, although domestic prices remained uncomfortably sticky, likely keeping the prospect of rate cuts from the Reserve Bank of New Zealand a distant prospect. No CPI surprises but higher than RBNZ forecasts Statistics New Zealand reported consumer price inflation increased 0.6 during the quarter, a result that was in line with expectations but higher than the 0.5% lift in Q4 2023. The rate from a year earlier slowed to 4%, the softest outcome since Q2 2021. That too was in line with expectations and above the 3.7% pace forecast by the RBNZ two ... (full story)