Inflation lands back in band at 2.2%

Inflation has landed back in the RBNZ's target range. (Image: File)

Wed, 16 Oct 2024

After over two years, inflation is back where the Reserve Bank of New Zealand wants it to be.The consumer price index (CPI), a Statistics NZ measure of headline inflation, rose 2.2% in the three months ending Sept 30 compared with the same period last year.Stats NZ consumer prices manager Nicola Growden said while prices are still rising, the rate at which they are is slowing.The CPI rose 0.6% on a quarterly basis, 0.2 percentage points below the Reserve Bank of NZ’s (RBNZ) forecast.The annual rate was 0.1 percentage point below the RBNZ...

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