Spot on but TOTALLY wrong that it would move rates let alone markets.
Hard game.
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Apparently RBNZ preferred measure of CPI is the trimmed-mean number which exclude extreme price movements.
This ranged from 5.0 to 4.9 percent in the 12 months to the December 2023 quarter. This indicates that underlying inflation is higher than the 4.7 percent increase in the CPI. In the December 2023 quarter, quarterly trimmed means ranged between 0.6 and 0.7 percent.
So basically back within the RBNZ mandated range annualized?
market had guessed the result well before. no reaction required. only thing required is to get the bloody rent and food prices down
anyway im sure the rbnz will say at end of this mth ... inflation is still an issue rates need to stay high
in mean time the economy will keep tanking
Interesting that inflation has now fallen from 7.2% to 4.7% without significant cuts to government spending, and on a quarterly basis is now within the the target range. Inflation doesn’t appear to have been driven by government spending in any significant way.
Oh come on the wasters were out most of that quarter plus probably to busy shredding for spending.
Many govt dept’s were asked to start making cuts before the election and had been actively doing so for the last quarter at least.
Better to expect the unexpected from markets. Gas prices collapsed by 24% within a week. Crypto also has collapsed by 20% after launching ETF. These types of events in markets can become new normal.
yes those are the reported numbers but “real” inflation definitely not as reduced just look at multiple large regional councils flagging 20-30% rate increases.
government spending does directly effect it in multiple ways including yield curves,
plus don’t forget reduction of car subsidy and effectively a new tax on RuC on electric and hybrids which is disinflationary fiscal policy