NZ Inflation Stays on Target, Rate Cut Expected

New Zealand’s annual inflation remains well within the Reserve Bank of New Zealand's target range, reinforcing expectations of a 50-basis-point rate cut next month. The Consumers Price Index (CPI) rose by 2.2% in the year to the December quarter, matching the September quarter's increase.

Quarter-on-quarter inflation was 0.5%, with tradeable (imported) inflation rising 0.3% but showing a 1.1% annual decline. Non-tradeable inflation remained steady, reflecting domestic price pressures. These figures indicate a stable inflationary environment, providing the Reserve Bank with room to ease monetary policy to support economic growth.

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