New Zealand: Inflation slows down to over one-year low in Q3
October 23, 2014
Consumer prices rose 0.3% over the previous quarter in Q3, matching the result tallied in the two previous quarters. The reading came in below market expectations of a 0.5% price increase. According to the statistical institute, the print mainly reflect higher housing-related prices, which are adjusted annually by local authorities.
Annual headline inflation fell from 1.6% in Q2 to 1.0% in Q3, the lowest rate since Q2 last year. Consequently, inflation now rests at the lower bound of the Reserve Bank of New Zealand’s 1.0%–3.0% target range.