RBNZ fourth-quarter sectoral factor model inflation +5.8% y/y

RBNZ fourth-quarter sectoral factor model inflation +5.8% y/y By Reuters

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Economy 4 minutes ago (Jan 24, 2023 09:20PM ET)

(C) Reuters. FILE PHOTO: View of an entrance to the Reserve Bank of New Zealand in Wellington, New Zealand November 10, 2022. REUTERS/Lucy Craymer

(Reuters) – The Reserve Bank of New Zealand (RBNZ) said on Wednesday that its sectoral factor model of core inflation rose 5.8% year-on-year in the fourth quarter.

The country’s official statistics agency earlier in the day released figures that showed the consumer price index at near three-decade highs last quarter but coming in below the central bank’s forecast.

Both measures are closely watched by the RBNZ, which has a monetary policy goal of keeping inflation within its target range of 1% to 3%.

RBNZ fourth-quarter sectoral factor model inflation +5.8% y/y

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