NZ: Stronger than expected reading of CPI - TDS

Analysts at TD Securities note that New Zealand’s Q3 CPI came in stronger than expected, with the quarterly print of 0.9% q/q putting year-on-year inflation at 1.9% (mkt: 1.7%).

Key Quotes

“This leaves inflation notably above the RBNZ's August projection of 1.4% y/y, but is largely on the back of higher fuel prices as the RBNZ's sectoral factor model showed inflation unchanged at 1.7% y/y.”