New Zealand inflation data
CPI for Q3
+0.3 % for the q/q
- expected is +0.5%
- prior was +0.3%
+1.0 % for the y/y
- expected is +1.2%
- prior was +1.6%
- Tradeable prices +0.1% q/q
- Non-tradeables +0.5% q/q
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NZD/USD lower immediately, down under 0.79
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From Statistics NZ:
- “Higher housing-related prices were responsible for about three-quarters of the rise in the CPI this quarter. The rest of the basket was relatively subdued,” prices manager Chris Pike said.
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A look at NZ inflation … not a concern for the RBNZ at present: