According to the latest data released on 16 April 2024, the Consumer Price Index (CPI) in New Zealand for the first quarter of 2024 has decreased to 3.7%. This marks a decline from the previous quarter where the CPI stood at 4.7% in the fourth quarter of 2023.
The CPI is an important indicator of inflation which measures the average change in prices paid by consumers for goods and services. The year-over-year comparison indicates that inflation has eased compared to the same quarter a year ago.
The drop in CPI could have various implications for the New Zealand economy, affecting consumer spending, investment decisions, and monetary policy. Economists will closely monitor these developments to assess the overall impact on the country's economic outlook.
