New Zealand: Inflation jumps to over 30-year high in Q4
Consumer prices rose 1.4% from the previous quarter in Q4, coming in below Q3’s 2.2% jump. In terms of specific categories, higher prices for housing and household utilities, recreation and culture and transport drove the quarter-on-quarter surge in prices.
Meanwhile, inflation jumped to 5.9% in Q4 from 4.9% in Q3, logging the fastest print since Q2 1990 and moving further above the Central Bank’s 1.0%-3.0% target band.