New Zealand Inflation Rises 0.5% On Quarter In Q4

(RTTNews) - Consumer prices in New Zealand were up a seasonally adjusted 0.5 percent on quarter in the fourth quarter of 2023, Statistics New Zealand said on Wednesday.

That was in line with expectations following the 1.8 percent jump in the previous three months.

Individually, prices for housing and utilities rose 0.8 percent on quarter, while food prices fell 1.2 percent and miscellaneous goods gained 1.5 percent.

On a yearly basis, inflation climbed 4.7 percent - again matching forecasts and slowing from 5.6 percent in the third quarter.

Individually, prices for housing and utilities climbed 4.8 percent on year, while food prices gained 5.7 percent and alcoholic beverages and tobacco jumped 8.1 percent.

Non-tradeable inflation was up 1.1 percent on quarter and 5.9 percent on year, while tradeable inflation fell 0.2 percent on quarter and rose 3.0 percent on year.