On July 16, 2024, the latest Consumer Price Index (CPI) figures for New Zealand revealed a slowdown in inflation growth for the second quarter of the year. The CPI growth rate dipped to 0.4%, down from the 0.6% recorded in the prior quarter.
The quarter-over-quarter comparison shows a notable cooling off in consumer price increases. The previous quarter's growth of 0.6% compared to its preceding quarter indicates a more rapid inflation pace than the current 0.4% growth.
This deceleration could suggest a stabilization in prices or potentially indicate early signs of weakening demand pressures. Analysts and policymakers will be closely monitoring these trends as they assess the broader implications for the New Zealand economy.
