New Zealand inflation slows to 3.7 percent
New Zealand annual inflation slowed to 3.7 percent in the third quarter falling below forecasts. Despite the moderation core pressures remain high keeping rate hike expectations alive for next week.
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New Zealand's annual inflation slowed to 3.7% in the third quarter, trailing analyst forecasts of 3.8% while fueling expectations of an upcoming rate hike. The consumer price index rose 0.7% over the quarter, driven largely by petrol costs and home building expenses. Stubborn price pressures keep inflation above the central bank's target range of 1% to 3% as voters head toward a general election on November 7.
