WELLINGTON: The Reserve Bank of New Zealand (RBNZ) said on Wednesday that its sectoral factor model of core inflation rose 4.3% year-on-year in the first quarter.
The country’s official statistics agency earlier in the day released figures that showed the consumer price index was at 4.0% in the first quarter, but that non-tradeable inflation was surprisingly high at 5.8%.
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%.