NZ monthly inflation gauge (ANZ) + 0.5% m/m on July (prior +0.3%)

Author: Eamonn Sheridan | Category: News

Official CPI data is once a quarter from New Zealand 

The monthly ANZ survey gauge fills in the blanks. The data release today is for July, so the first indication for Q3.

Comes in at 
  • +0.5% m/m
  • +2.8% y/y 
This'll be supportive for NZD at the margin, reducing the chance of further easing from the RBNZ (all else being equal …. which it never is of course). 

ANZ comments:
  • we think domestic inflationary pressures are near their their peak
  • annual inflation should fall in the next year given weaker economic growth and more spare capacity

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