New Zealand: Inflation inches up in Q2
July 17, 2015
Consumer prices increased 0.4% in Q2 2015 over the previous quarter, rebounding from the 0.3% decrease recorded in Q1. The reading marked the highest increase since Q3 2013, but came in below market expectations of a 0.6% increase. According to the statistical institute, the acceleration was mainly driven by higher prices for petro and vegetables.
Headline inflation rose from 0.1% in Q1 to 0.3% in Q2. Consequently, inflation came closer to the lower bound of the Reserve Bank of New Zealand’s 1.0%–3.0% target range.
Author: Eric Denis , Economist