New Zealand inflation data due today - preview
Q2 CPI from NZ is due at 2245 GMT on Monday 15 July 2019, which is Tuesday local time in NZ
- expected 0.6%, prior 0.1% for the q/q
- expected 1.7%, prior 1.5% for the y/y
And please note also that there is further inflation data following later, direct from the RBNZ at 0300GMT (see that link above).
More - this snippet via ANZ:
- Core inflation measures should continue to track broadly sideways.
- All up, we think Q2 will mark the peak in annual non-tradable inflation for now. The economic expansion has stalled, the global environment has become a headwind, and peak capacity pressure is behind us.
- The RBNZ needs to see accelerating GDP growth to achieve a sustained lift in inflation, and that is looking increasingly unlikely to occur. We expect the RBNZ to cut the OCR in August and November.