NZ: Soft start for monthly inflation gauge – ANZ

New Zealand’s ANZ Monthly Inflation Gauge was flat m/m in April, after a solid rise in the first quarter, notes the research team at ANZ.

Key Quotes

“Under the surface, price moves in a few key components broadly cancelled out. Housing-related prices continue to be important drivers of domestic inflation, with rents and purchase of housing making the largest positive contributions for the month. Annual inflation in the Gauge ticked up to 2.5%.”