NZ shares shake off inflation scare

Inflation reaches a 30-year high. (Image: Getty)

Mon, 18 Jul 2022

New Zealand's benchmark share index moved higher on Monday, despite inflation data showing prices had risen more in the June quarter than many had expected. The S&P/NZX 50 Index rose 41 points, or 0.4%, to 11,163.63. Turnover was extremely light at just $56 million.Annual inflation hit a 32 year high in the June quarter – at 7.3%, compared to expectations of 7% – but you might not know it just from looking at financial markets.The NZ dollar climbed immediately after the announcement, on the expectation that it may...

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