2023.10.1623:10:00UTC+00New Zealand Annual Inflation Slows To 5.6% In Q3

Consumer prices in New Zealand were up 5.6 percent on year in the third quarter of 2023, Statistics New Zealand said on Tuesday.

That was beneath expectations for 5.9 percent and down from 6.0 percent in the three months prior.

On a seasonally adjusted quarterly basis, inflation rose 1.8 percent - again below forecasts for 2.0 percent but up sharply from 1.1 percent in the second quarter.

Non-tradeable inflation was up 1.7 percent on quarter and 6.3 percent on year, while tradeable inflation rose 1.8 percent on quarter and 4.7 percent on year.