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New Zealand Inflation Q3 2018

New Zealand: Inflation climbs to a one-year high in Q3

Consumer prices rose 0.9% in Q3 over the previous quarter according to Statistics New Zealand, accelerating from Q2’s 0.4% rise and marking a one-and-a-half year high. The reading mainly reflected higher prices for housing and household utilities as well as transport.

Inflation picked up from 1.5% in Q2 to a one-year high of 1.9% in Q3, coming in marginally below the Central Bank’s 2.0% target. The combination of higher fuel prices and a weaker New Zealand dollar have added to inflationary pressures recently, which if sustained, could reduce the scope for further loosening of policy by the RBNZ.

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