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NZ: Monthly Inflation Gauge surged 0.4% in December – ANZ

The ANZ Monthly Inflation Gauge was lifted 0.4% MoM in December for the New Zealand economy, to finish the quarter up 0.8% QoQ, notes the research team at ANZ.

Key Quotes

“Annual inflation in the Gauge was stable at 3.2% y/y. Housing-related prices remain a persistent driver of inflation, and recent vigour in the housing market suggests that will continue. Today’s figures present some upside risk to our current Q4 non-tradable CPI forecast of 0.6% q/q.”

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