New Zealand Inflation Rate Mom

The Consumer Price Index in New Zealand edged higher to 0.6% in the first quarter of 2024 over the previous period following 0.5% in the December quarter, and in line with market expectations. Cost rose for Alcoholic beverages and tobacco rose 3.4 % (vs 1.4 % in Q4) due to cigarettes and tobacco (+6.5% vs 3% in Q4) alcoholic beverages (0.1% vs 1% in Q4). Recreation and culture rose 2.4% (vs 1.1 % in Q4), due to accommodation services (6.7% vs 0.7% in Q4) and recreational and cultural services (2% vs 1.7% in Q4). Also, Housing and household utilities went up 0.7% (vs 0.8 % in Q4), due to rent (1.2% vs 1.1% in Q4), construction (0.8% vs 0.7% in Q4) and household energy (0.4% vs 1.9% in Q4). On the other hand, Transport fell 2.5% (vs -0.3 % in Q4) .