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New Zealand Inflation Q3 2022

New Zealand: Inflation dips in Q3

Inflation dipped to 7.2% in Q3 from 7.3% in Q2, which had marked the fastest print since Q2 1990. It therefore remained entrenched above the Central Banks 1.0%-3.0% target band. In terms of specific categories, somewhat softer increases in construction costs and local authority rates drove the reading.

Meanwhile, consumer prices soared 2.2% from the previous quarter in Q3, coming in above Q2s 1.7% increase.

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