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Analysts at TD Securities note that New Zealand’s Sep food prices eased by -0.1%/m and with Q3 food prices at +0.7%/q, TD’s overall headline CPI forecast remains at 0.7%/q (published Tue).

Key Quotes

“Early consensus is similar. Meanwhile, plummeting swap rates and therefore lower mortgage rates on offer have done the job to increase Auckland’s House Price Index by 0.5%/m in Sep, the first increase since Feb 2018.”