New Zealand consumer confidence rises in June as inflation expectations ease

Key facts

• New Zealand consumer confidence rose in June.
• The ANZ-Roy Morgan Consumer Confidence index reached 98.8 in June.
• Easing two-year inflation expectations contributed to the confidence increase.
• Overall consumer sentiment is still below January's peak.
• The Reserve Bank of New Zealand is expected to cut interest rates.

Consumer confidence in New Zealand experienced an increase in June, with the ANZ-Roy Morgan Consumer Confidence index climbing to 98.8. This rise is largely attributed to a notable easing of inflation expectations over the next two years. Despite this positive movement, the overall level of consumer sentiment remains below the peak observed in January. The current economic climate suggests that the Reserve Bank of New Zealand is expected to implement interest rate cuts. This data point provides insight into the current economic sentiment among New Zealand consumers and potential future monetary policy decisions.