New Zealand CPI inflation sticks to 32-year high in Q4, misses RBNZ forecast

By Ambar Warrick

Investing.com--New Zealands consumer price index remained pinned to a 32-year high in the fourth quarter, heralding continued pressure on the economy from historically high price pressures, although the reading did come below the Reserve Banks expectations.

CPI inflation grew an annualized 7.2% in the three months to December, data from Statistics New Zealand showed on Wednesday, remaining steady from the prior quarter and slightly beating expectations of 7.1%. The index remained at its highest level since June 1990.

On a quarterly basis, inflation grew 1.4%- slightly more than expectations of 1.3%, and less than the September quarters reading of 2.2%.