Latest figures defy widespread predictions inflation would fall, as the central banks readies an ‘outsized’ rate hike
New Zealand’s latest inflation data defied widespread predictions it would fall on Tuesday, as it barely budged from a 30-year high, prompting alarm among economists and raising fresh questions over the effectiveness of interest rate hikes.
Prices rose 2.2% in the last quarter, bringing annual inflation to 7.2% – just under the 7.3% recorded at the end of June.
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