New Zealand inflation slows to lowest rate since early 2021

Policymakers are expected to deliver another big cut at their meeting on Nov 27. — Bloomberg

WELLINGTON: New Zealand’s annual inflation rate fell sharply in the third quarter, returning to the central bank’s target band for the first time in more than three years.The rate fell to 2.2% from 3.3% in the second quarter, Statistics New Zealand said yesterday in Wellington.

The result matched economists’ expectations while the Reserve Bank of New Zealand (RBNZ) had forecast 2.3%. Consumer prices advanced 0.6% from three months earlier, less than the 0.7% estimate of economists.