New Zealand Q3 inflation slows to 3.7%, below forecasts
IN SHORT
New Zealand's annual inflation slowed to 3.7% in the third quarter, below economists' forecasts of 3.8%, official data showed on Thursday. The consumer price index rose 0.7% from the previous quarter, Statistics New Zealand said. The Reserve Bank of New Zealand targets annual inflation between 1% and 3%.
Key Numbers
3.7%New Zealand annual inflation in Q3
0.7%New Zealand quarterly inflation in Q3
3.8%Economists' forecast for New Zealand annual inflation in Q3
0.8%Economists' forecast for New Zealand quarterly inflation in Q3
1%-3%RBNZ inflation target range
Who's Involved
Statistics New Zealand
said consumer price index rose 0.7% in the third quarter
Reserve Bank of New Zealand
targets annual inflation between 1% and 3%
Reuters
polled economists
↳ Why This Matters
The inflation data influences the Reserve Bank of New Zealand's monetary policy decisions, including potential interest rate adjustments, which can impact borrowing costs and economic growth.