FX.co ★ New Zealand Inflation Rises 1.2% In Q1

Consumer prices in New Zealand were up a seasonally adjusted 1.2 percent on quarter in the first quarter of 2023m Statistics New Zealand said on Thursday.

That was shy of expectations for an increase of 1.7 percent and down from 1.4 percent in the three months prior.

Individually, food prices rose 3.7 percent on quarter, while alcohol and tobacco added 4.1 percent and housing and utilities rose 1.0 percent.

On an annualized basis, inflation climbed 6.7 percent - again below forecasts for 7.1 percent and down from 7.2 percent in the previous three months.

Individually, food prices jumped 11.3 percent on year, while housing and utilities gained 7.1 percent and recreation added 6.9 percent.