New Zealand Inflation Rate Mom

The Consumer Price Index in New Zealand advanced by 0.6% in the three months to September 2024 over the previous quarter following a 0.4% rise in the June quarter. Main upward pressure came from: food (+1.3% vs +0.1% in Q2); housing and household utilities (+1.9% vs +1.1% in Q2), health (+4.2% vs +0.3% in Q2); miscellaneous goods and services (+0.8% vs +1.8% in Q2); recreation and culture (+0.7% vs -1.9% in Q2) and alcoholic beverages and tobacco (+0.6% vs +0.8% in Q2). In contrast, prices fell for transport (-2.1% vs -0.5% in Q2); education (-7.6% vs 0% in Q2) and communication (-0.5 vs +1.3% in Q2). On an annual basis, prices jumped by 2.2% in the September quarter, following a 3.3% increase in the previous period.