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The Reserve Bank of New Zealand (RBNZ) released its consumer price inflation data on late Thursday evening. Consumer prices in New Zealand rose 0.3% in the third quarter, beating expectations for a 0.2% gain, after a 0.4% increase in the second quarter.
The increase in consumer price inflation was driven by higher housing-related prices, and higher vegetable and package holiday prices.
On a yearly basis, consumer price inflation increased 0.4% in the third quarter, beating forecasts of the 0.3% rise, after a 0.4% gain in the second quarter.
The annual increase in consumer price inflation was driven by higher housing-related prices.
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