New Zealand’s annual inflation hit 4.1% in Q2, above the 4.0% estimate, lifting the New Zealand dollar.
New Zealand’s consumer price index rose 4.1% year-over-year in the second quarter, topping the 4.0% consensus forecast. Quarterly inflation reached 1.5%, also above the 1.4% estimate.
The data follows expectations for a slight cooling from Q1, where annual inflation stood at 4.3%. Analysts had anticipated a modest decline, but stronger-than-expected price pressures persisted.
The New Zealand dollar strengthened following the release, reflecting market reactions to the higher inflation print.