Data is here: NZ CPI Q2 2021 1.3% q/q (vs. expected 0.8%) and 3.3% y/y (vs. expected 2.8%)

Scorchio!

Highest in around a decade for NZ inflation.

NZD/USD trading now above 0.7000:

New Zealand chart nzd/usd cpi

Still to come:

0300 GMT the Reserve Bank of New Zealand releases their own preferred core inflation measure.

  • 'Sectoral Factor Model Inflation Gauge', the Q1 was 1.9% y/y (see pic below)
  • The RBNZ target band for core inflation is 1-3%