NZD: CPI increased 0.2% in Q1 - ANZ

Research Team at ANZ, notes that the NZ Q1 CPI increased 0.2% in Q1 and 0.4% y/y, close to expectations.

Key Quotes

“Readings of core inflation were also firmer. All up, a low annual headline inflation reading – the sixth successive sub 1% print – is likely to keep the bias towards OCR cuts. Our research suggests that NZ CPI does not provide a reliable guide to Aussie CPI (released on 27 April).”