Could we see another rate hike? Maybe

Food and other price increases are still driving inflation. (Image: Getty)

Wed, 19 Jul 2023

The headline number may have been better, but some economists say “sticky” domestic inflation may mean another rate hike is on the horizon. Consumer prices rose 1.1% in the June quarter, with annual inflation easing to 6.0%, down from 6.7% in the prior quarter. That was slightly below the 6.1% forecast by the Reserve Bank of New Zealand (RBNZ).However, non-tradeable inflation rose 6.6%, driven by construction, rents, and ready-to-eat food. According to Stats NZ, non-tradable inflation indicates demand and supply in the domestic...

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