Reserve Bank's Orr won't be happy with this data

February spending rose across most of the retail spending categories. (Image: Getty)
Rebecca Howard
Andy Fyers
February’s electronic card transaction data shows that spending – in actual terms – is running slightly hotter than inflation. In February 2022, total retail spending was $5.5 billion while in February 2023 it was $6.1b, up 11.7% or $636 million. Annual inflation was 7.2% in the December quarter, but food prices were 10.2% higher in January than they were in January 2022.   The data is unlikely to please the central bank, which is attempting to engineer an economic slowdown in a bid to curb high inflation.W...

More Economy

Rabobank a tad more hawkish after inflation data
Economy

Rabobank a tad more hawkish after inflation data

Market pricing points to October as the most likely timing for a rate cut. 

Rebecca Howard 19 Jul 2024
Inflation outcome shores up the view RBNZ will cut by November
Finance

Inflation outcome shores up the view RBNZ will cut by November

Economists say even earlier rate cuts are possible. 

Tom Raynel 17 Jul 2024