<p>New Zealand inflation data for the July, August, and September quarter. </p><p>2.2% q/q</p><ul><li>expected 1.6%, prior 1.7%</li></ul><p>7.2% y/y </p><ul><li>expected 6.6%, prior 7.3%</li></ul><p>Domestic inflation (i.e. non-tradeables) is +2% q/q and +6.6% y/y (the y/y is the highest since the series began in June 2000)</p><ul><li>Non-tradeable inflation measures goods and services that do not face foreign competition. It is an indicator of domestic demand and supply conditions (ps. this is a simplified description)</li></ul><p>Tradeables inflation +8.1% y/y (prior +8.7)</p><p>—</p><p>The inflation data will keep RBNZ rate hikes on the boil. The highest ever y/y reading for domestic inflation will ensure that. The q/q smashing expectations and jumping even higher from Q2 will lock it in.</p><p>There is only more meeting this year, then a 3 month wait for the next:</p>
This article was written by Eamonn Sheridan at forexlive.com.
