New Zealand: Inflation moderates in Q1
Inflation declined to 6.7% in Q1 from 7.2% in Q4 2022. It therefore remained entrenched above the Central Bank’s 1.0%-3.0% target band. The decline came on the back of softer increases in prices for transport, housing and household utilities, household contents and health.
Meanwhile, consumer prices rose 1.25% from the previous quarter in Q1, coming in below Q4’s 1.43% increase.