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Analysts at ANZ are expecting that New Zealand’s headline CPI rose 0.7% q/q in the September quarter, with annual inflation ticking back down to 1.5% from 1.7%.

Key Quotes

“Non-tradable inflation is expected to print at a solid 0.9% q/q, with tradable inflation up a more modest 0.4% q/q.”

“While we expect headline inflation to fall further from the 2% target midpoint in Q3, the RBNZ may find a glimmer of hope from the rise in domestic (non-tradable) inflation to 3% y/y that we’re expecting. That said, the RBNZ’s focus will remain on the slowing economy, which we expect will see inflation continue to fall short over the next year.”