New Zealand: Inflation softens in Q3
Consumer prices increased 0.7% in Q3 2019 over the previous quarter, up slightly from Q2’s 0.6% rise, according to Statistics New Zealand. The print showed that housing and household utilities, and food were the categories that contributed the most to the quarter-on-quarter increase in prices, only partially offset by lower price for clothing and footwear and communication.
Meanwhile, inflation dropped to 1.5% in Q3 following Q2’s 1.7%, and thus moved further away from the Central Bank’s 2.0% target.