Consumer prices in New Zealand rose 3.3% year-over-year in the second quarter of 2024, as reported by Statistics New Zealand on Wednesday. This increase fell short of the anticipated 3.5% rise and was a decrease from the 4.0% increase seen in the previous quarter.
On a seasonally adjusted quarterly basis, inflation increased by 0.4%, once again falling below the forecasted 0.5% and down from the 0.6% increase in the first quarter.
The quarterly non-tradeable inflation rate stood at 0.9%, while the quarterly tradeable inflation rate was at -0.5%. Annually, the non-tradeable inflation rate was 5.4%, and the tradeable inflation rate was 0.3%.
