Annual inflation eases to 6.7%

The Reserve Bank is unlikely to pause its hiking cycle. (Image: Getty)

Thu, 20 Apr 2023

The annual pace of inflation eased to 6.7% in the March quarter versus 7.2% in the December quarter.“Inflation is still at levels not seen since the 1990s,” Stats New Zealand's consumer prices senior manager, Nicola Growden, said.While it's lower than the 7.3% forecast by the Reserve Bank of NZ, it may not be enough to deter the central bank from lifting interest rates again in May, by another 25 basis points, to 5.50%. The central bank is mandated with keeping inflation between 1% and 3%, with a focus on the midpoint....

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