The Reserve Bank of New Zealand (RBNZ) released its Sectoral Factor Model Inflation gauge for the second quarter of 2024, following the release of the official Consumer Price Index (CPI) by the NZ Stats early Wednesday.
TheReserve Bank of New Zealand released itsSectoral Factor Model Inflation gauge for the second quarter of 2024, following the release of theofficial Consumer Price Index by the NZ Stats early Wednesday. The inflation measure dropped to 3.6% YoY in Q2 2024 vs. 4.2% in Q1. The inflation measures are closely watched by the RBNZ , which has a monetary policy goal of achieving 1% to 3% inflation. FX implications TheKiwiDollar holds its advance above 0.6050 after the RBNZ ’s inflation data.
About the RBNZ Sectoral Factor Model Inflation The Reserve Bank of New Zealand has a set of models that produce core inflation estimates. The sectoral factor model estimates a measure of core inflation based on co-movements - the extent to which individual price series move together.
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