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New Zealand Q3 inflation rises to highest in over a decade By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – Shoppers seen in a Wellington mall on July 16, 2020. Image taken July 16, 2020. REUTERS/Praveen Meon

WELLINGTON, (Reuters) – New Zealand’s Consumer Price Index rose to the highest level in more than a decade during its third quarter. This beat expectations according to Statistics New Zealand data on Monday.

CPI increased 2.2% from 1.3% to September’s quarter. This is the largest quarterly change since the 2.3% rise in December 2010.

Inflation increased 4.9% in an annual basis, as opposed to 3.3% the quarter before.

Reuters polled economists and forecasted a 1.4% increase in quarterly inflation, which would be 4.1% annually.

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