Inflation stirred into life before covid-19 clobbering

Mon, 20 Apr 2020

New Zealand’s inflation was finally showing signs of life before it got clobbered by covid-19.Consumer prices lifted 0.8 percent during the quarter, bringing annual inflation to 2.5 percent. That was the highest annual measure since September 2011 when it was 4.6 percent. ASB senior economist Mark Smith said that not only was inflation stronger than expected but it probably would have put a rate hike on the table were it not for the coronavirus pandemic.The central bank cut the official cash rate by 75 basis points to...

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