Consumer prices in New Zealand increased by 2.2% year-over-year in the fourth quarter of 2024, as reported by Statistics New Zealand on Wednesday. This rate remains consistent with the previous quarter, but slightly surpasses the anticipated 2.1%.
On a seasonally adjusted quarterly basis, inflation rose by 0.5%, aligning with forecasts and showing a deceleration from the 0.6% observed in the third quarter. Meanwhile, inflation for tradeable items experienced a 0.3% quarterly increase, yet declined by 1.1% annually. In contrast, non-tradeable items saw a 0.7% rise over the quarter and a significant 4.5% increase over the year.
