Wednesday, 19th July, 2017
Inflation is the star attraction in NZ this week, with June quarter CPI inflation figures released on Tuesday morning. Annual inflation surged at the start of 2017, from a measly pace of 1.3% at the end of 2016 to 2.2% in Q1 2017. This not only brought annual inflation back into the RBNZ’s 1-3% target band, but also comfortably above the mid-point. However, the RBNZ was quick to note that this surge in inflation will likely be temporary, largely as a result of volatility in food and fuel prices.