NZ: CPI likely to rise by 0.7% for the September quarter - Westpac

Michael Gordon, Senior Economist at Westpac, expects a 0.7% rise in the Consumer Price Index (CPI) of New Zealand economy for the September quarter, taking annual inflation up to 1.7%.

Key Quotes

“Higher fuel prices account for much of the expected quarterly rise, and are likely to push annual inflation higher again in the near term.”

“We also expect the lower exchange rate over the last year to have an impact on prices of imported goods.”

“Inflation is shaping up to rise above the midpoint of the Reserve Bank’s target range, for at least a short period.”