Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
New Zealand CPI continued to slow in the June quarter, printing at 6.0% y/y, down from the March quarter’s 6.7%, but higher than the 5.9% market expectation, according to data released by Stats NZ Wednesday.
Quarterly inflation rose 1.1%, compared to 1.2% in March, the lowest quarterly rise since March 2021. The figures will strengthen the Reserve Bank of New Zealand board's choice to hold rates at 5.5% last week. (See MNI RBNZ WATCH: Rates Rest At Restrictive Level)
The trimmed-mean measures – which exclude extreme price movements – ranged from 5.7%-6.0% for the 12 months to June 2023. “This indicates that underlying inflation is similar to the 6.0% overall increase in CPI,” Stats NZ noted.
CPI excluding food increased 4.6%, while inflation excluding food, household energy and vehicle fuels increased 6.1%.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.