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Financial News: New Zealand Inflation Jumps 7.2% On Year In

New Zealand Inflation Jumps 7.2% On Year In Q4

01/24/2023 - 18:15:00 (RTTNews)

(RTTNews) - Consumer prices in New Zealand were up 7.2 percent on year in the fourth quarter of 2022, Statistics New Zealand said on Wednesday.

That was unchanged from Q3 and exceeded expectations for 7.1 percent.

Individually, prices rose 8.0 percent on year for housing, 11 percent for food and 8.4 percent for transportation.

On a seasonally adjusted quarterly basis, inflation rose 1.4 percent - slowing from 2.2 percent in the three months prior but beating forecasts for 1.3 percent.

Individually, prices rose 1.3 percent on quarter for housing, 1.8 percent for food and 3.4 percent for recreation.

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