NZ sharemarket edges up as inflation data released

Inflation data did not scare investors today. (Image: Getty)

Wed, 24 Jan 2024

The New Zealand sharemarket staged a strong turnaround after the latest consumer price index said annual inflation fell below 5% for the first time in 27 months.The S&P/NZX 50 Index had fallen to 11,733.23 before the Stats NZ announcement but then climbed steadily to close at 11,856.61, gaining 53.73 points or 0.46%.There were 72 gainers and 53 decliners over the whole market on volumes of 27.75 million share transactions worth $85.12m.The December consumer price index (CPI) increased 0.5%, representing annual inflation of 4.7% and down fro...

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