Liz Kendall, senior economist at ANZ, points out that New Zealand economy’s ANZ Monthly Inflation Gauge fell 0.1% m/m (+2.3% y/y) in December.
“Housing-related prices provided most of the lift; rents were the largest single contributor. Rents and purchase of housing (third-highest contribution overall) together contributed 0.17%pts.”
“Over the December quarter the Gauge rose 0.7% q/q, with housing-related price pressures, stretched accommodation services, and some other small price increases offsetting the marked fall in domestic air travel prices.”
“Looking through the noise, we’re left with a non-tradable inflation pulse that is meandering along, and which doesn’t look set to take off any time soon. CPI for Q4 will be released on 23 January, with our preview due out later this week.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.