Inflation from NZ for the July to September quarter
Above expectations at 0.5 % q/q
- expected 0.4%, prior 0.0%
Also higher than expected at 1.9 % y/y
- expected 1.8%, prior 1.7%
'Tradeables +0.2% q/q and +1% y/y
Non-tradeables +0.7% q/q and +2.6% y/y
The break up is indicative of the firm NZD holding down the price of imported goods
The NZD has been marked up toward 0.7200 - not only is the data higher than the market expected, it is substantially higher than the RBNZ forecasts - lower for (not) longer from the Bank?
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From Stats NZ:
- Collectively, housing-related costs had the largest upward contribution in the September 2017 quarter, slightly offset by falls in transport prices.
- Decreases in petrol prices, and other transport costs
