Annual inflation at 4.7% in December quarter

Annual inflation was in line with economists' expectations. (Image: Getty)

Wed, 24 Jan 2024

Annual inflation fell in line with economists’ expectations to 4.7% in the final three months of 2023.This was a decent improvement from the September quarter when it sat at 5.6%.The reading also shows inflation fell faster than the Reserve Bank of New Zealand (RBNZ) anticipated in November when it forecasted the figure would fall to 5% in the December quarter.Nonetheless, at 4.7%, the annual inflation rate remained out of the RBNZ’s 1 to 3% target range.Largely domestically-driven non-tradeable inflation remained sticky in the...

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