New Zealand Inflation Accelerates, Easing Pressure on Policy

New Zealand inflation accelerated slightly in the first quarter, adding to signs the central bank may not need to cut interest rates any further. Consumer prices rose 1.5% from a year earlier, Statistics New Zealand said Wednesday in Wellington, picking up from 1.4% in the fourth quarter and matching economists’ estimates. Prices advanced 0.8% from three months earlier, also matching forecasts. The Reserve Bank projects inflation will temporarily accelerate into the top half of its 1-3% target range through 2021, before slowing next year. Earlier this month, the central bank said it would look through that spike in … (full story)

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