New Zealand Inflation Slows To 2.2% Annually

(RTTNews) - Consumer prices in New Zealand were up 2.2 percent on year in the third quarter of 2024, Statistics New Zealand said on Wednesday in line with expectations and down from 3.3 percent in the previous three months.

Higher prices were recorded for housing rentals, up 4.5 percent; local authority rates and payments, up 12.2 percent; and cigarettes and tobacco, up 10.0 percent.

These were partly offset by lower prices for petrol, down 8.0 percent; and vegetables, down 17.9 percent/

On a seasonally adjusted quarterly basis, inflation rose 0.6 percent - shy of expectations for 0.7 percent and up from 0.4 percent in the three months prior.