Analysts at TDS explain that New Zealand’s food prices for Sep at -0.2% sees their food price component of CPI increase +1.1% (18.8% weight) and combined with the acceleration in petrol prices over the quarter they confirm their Q3 CPI forecast at +0.6%/qtr and +2.0%/yr.
“After the election issues are settled, the RBNZ can go back to monitoring inflation pressures and the NZD can catch a tailwind. Sep House sales down –26.2%/yr, although prices held firm. In the ongoing election circus, NZFirst Winston Peters announced that the NZ First board is unlikely to meet tomorrow, and may not meet until Monday. Peters told reporters "Obviously it would require everybody getting together and that's a bit of a logistics issue because they're from all over the country," . It’s going to be a long weekend watching out for headlines, just in case there is a surprise announcement.”
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