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ANZ note that "the ANZ Monthly..........>

NEW ZEALAND
NEW ZEALAND: ANZ note that "the ANZ Monthly Inflation Gauge contracted 0.8% m/m
in April, shaving 0.1%pts off the annual measure, which came in at 3.0% y/y.
Lockdown measures meant many goods and services were not traded in April, so
we've had to estimate some prices - a challenge also faced by Statistics NZ as
it compiles the CPI. Volatility in the data is a certainty, but the dust will
settle over the coming months, and when it does, we think the revealed inflation
pulse will be very weak."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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