Reserve Bank of New Zealand data

New Zealand Q2 2 year inflation

expectations 2.97% (prior 3.3%)

  • 1 year 4.28% (prior 5.11%)

Both the 1 and 2 year have dropped from Q1, and more

rbnz cpi inflation expectations q2 2023

Pic is from the RBNZ survey results.

At the margin this lessens the need for further RBNZ rate hikes. The Bank next meets on May 24.


The Reserve Bank of New Zealand (RBNZ) inflation expectations data

  • a survey conducted quarterly by the RBNZ
  • businesses, economists, and households are asked about their inflation expectations over different time horizons

The RBNZ uses the information gathered from this survey to monitor and assess inflation expectations, which are an important factor in setting monetary policy. If people expect higher inflation in the future, they may demand higher wages and prices, which can lead to actual inflation. Conversely, if people expect lower inflation, they may be more likely to accept lower wages and prices, which can help keep inflation in check.