While New Zealand Inflation has fallen very slightly to 7.2% for the year to September, down from the 32-year high of 7.3% hit in June, the 6.6% domestic inflation figure is the highest since Stats NZ started that data series in 2000, up from 6.3% last time.
Stat NZ today released their latest data and advised that the consumers price index increased 7.2 percent annually in the September 2022 quarter.
This signals a likely 75 basis point rate hike from the Reserve Bank of New Zealand in November. Already this year the OCR has been hiked by a record (for a calendar year) 275 basis points to 3.50%.
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