RBNZ likely to remain wary after CPI data

Inflation is lower but still not low. (Image: Getty)

Wed, 24 Jan 2024

Annual inflation is lower but still running hot, and economists say the central bank will remain wary. The consumer price index (CPI) rose by 0.5% in the December quarter, which saw the annual inflation rate drop to 4.7% in the December quarter versus 5.6% in the September quarter.Stats New Zealand said it was the smallest annual rise in over two years. Lower not low“This still leaves us with a picture of lower inflation, not low inflation,” Westpac Bank senior economist Satish Ranchhod said. “That’s because do...

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