Saturday, March 25, 2023

RBNZ core inflation at 1.7% in third quarter By Reuters


© Reuters. FILE PHOTO: Two people walk towards the entrance of the Reserve Bank of New Zealand located in the New Zealand capital city of Wellington

SYDNEY (Reuters) – The Reserve Bank of New Zealand (RBNZ) said on Friday that its sectoral factor model of core inflation in the third quarter was 1.7%, unchanged versus the year-ago quarter.

The data release came after the country’s official statistics agency released figures showing the inflation rate rose 0.7% in the September-quarter as coronavirus curbs eased, but still falling short of expectations.

Both measures are closely watched by the RBNZ, which has spent almost a decade trying to get inflation above the middle of its 1%-3% target band.

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