NZ 3Q inflation higher than expected but driven by one-offs

NZ 3Q inflation higher than expected but driven by one-offs
Rebecca Howard
By Rebecca Howard Oct. 16 (BusinessDesk) - Higher-than-expected third-quarter inflation is unlikely to take rate cuts off the table as it was largely driven by higher petrol prices, something the Reserve Bank has said it will look through. The consumers price index rose 0.9 percent in the three months ended Sept. 30 while annual inflation was 1.9 percent, Statistics New Zealand said. Economists had been expecting the consumers price index would increase 0.7 percent in the three months ended Sept. 30, for an annual increase of 1.7 perce...