Evidence of continuing higher price pressure in this data. The Reserve Bank of New Zealand has paused its rate hike cycle as consumer level inflation has turned lower. This data indicating pipeline pressure for higher prices will not be welcomed by the bank. The next RBNZ policy meeting is November 29. This data point is not enough, by itself, to restart the hikes.

New Zealand ppi q3 2023

I posted background information on the PPI here earlier.