According to Statistics New Zealand, consumer prices in the country saw a seasonally adjusted increase of 0.6% in the first quarter of 2024. This increase, which was in line with predictions, showed a slight rise from the previous quarter's 0.5% increase.
In terms of annual inflation, there was a rise of 4.0%, marking a decrease from the previous quarter's 4.7% figure. This rate, although higher than the projected 4.5%, was lower than the inflation rate experienced in the previous quarter.
Zooming in on specific categories, the non-tradeable inflation rate for the quarter was 1.6%, while the corresponding annual rate stood at 5.8%. Within the tradeable inflation sector, the quarterly and annual rates were -0.7% and 1.6% respectively.
