NZ Q4 CPI: A tick above expectations - Rabobank

Michael Every, Head of FMR at Rabobank, notes that the New Zealand Q4 CPI rose 0.4% q-o-q and hit 1.3% y-o-y.

Key Quotes

“Both were a tick above expectations, and well above the ultra-low levels seen in Q3. The RBNZ will be relieved, but let’s hope they don’t get itchy trigger-fingers prematurely again. Indeed, CPI is still a far cry from what used to be normal, inflation-wise, and the ultimate test is wage growth, which is not rising sharply as inward immigration fills the skills gaps in many sectors.”