RBNZ’s own inflation measure for Q3 2023 is +5.2% y/y (vs. prior +5.7%)

The sectoral factor model is the Reserve Bank of New Zealand’s own preferred inflation measure, it dropped back significantly in the September quarter:

The Bank on its own model:

  • We created the sectoral factor model. It estimates the common component of inflation in the CPI basket, the tradable basket, and the non-tradable basket, based upon separate factors for the tradable and non-tradable sectors. The data excludes GST.

Earlier today we had the official CPI data from NZ:

This article was written by Eamonn Sheridan at www.forexlive.com. Source