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VIEW: ANZ expect "headline CPI rose.....>

NEW ZEALAND
NEW ZEALAND: VIEW: ANZ expect "headline CPI rose 0.6% in the June quarter, with
annual inflation ticking up from 1.5% to 1.7%. Tradable inflation is expected to
print at 0.8% q/q, supported by higher fuel prices, with non-tradable inflation
rising 0.3% q/q. Core inflation measures should continue to track broadly
sideways. The Q2 inflation print should add to the case that inflation pressures
have stalled and more is needed from the RBNZ to support the economy and get
inflation back to 2%. The non-tradable (domestic) inflation print and core
inflation measures will be crucial for the RBNZ, following several quarters of
stability in the core measures. We're expecting Q2 will mark the peak in annual
non-tradable inflation for now."
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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