New Zealand’s CPI eases to 4.0% yet exceeds target, driven by housing costs

New Zealand CPI rose 0.6% qoq in Q1, while annual inflation rate decelerated from 4.7% yoy to 4.0% yoy. This marks the lowest annual inflation rate since Q2 2021 but still remains above RBNZ’s target band of 1-3%. The most significant pressure on the annual inflation rate came from the housing and household utilities sector. […]

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