New Zealand's CPI Data Suggests RBNZ Can Lay Low for a While

Dow Jones07-21 08:46

0046 GMT - The signals from New Zealand's 2Q underlying inflation data were mixed and shouldn't move the dial much for the Reserve Bank of New Zealand, says Miles Workman, senior economist at ANZ. The trimmed mean and weighted median measures accelerated, but the ex-fuel and energy measure slowed, and services inflation cooled meaningfully, he notes. Still, while 2Q should mark the peak in inflation, fuel prices are currently rising again and the RBNZ is unlikely to stop worrying about potential spillover effects any time soon, he adds. (james.glynn@wsj.com; X @JamesGlynnWSJ)

(END) Dow Jones Newswires

July 20, 2026 20:46 ET (00:46 GMT)

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Still, while 2Q should mark the peak in inflation, fuel prices are currently rising again and the RBNZ is unlikely to stop worrying about potential spillover effects any time soon, he adds. 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The trimmed mean and weighted median measures accelerated, but the ex-fuel and energy measure slowed, and services inflation cooled meaningfully, he notes. Still, while 2Q should mark the peak in inflation, fuel prices are currently rising again and the RBNZ is unlikely to stop worrying about potential spillover effects any time soon, he adds. 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The trimmed mean and weighted median measures accelerated, but the ex-fuel and energy measure slowed, and services inflation cooled meaningfully, he notes. Still, while 2Q should mark the peak in inflation, fuel prices are currently rising again and the RBNZ is unlikely to stop worrying about potential spillover effects any time soon, he adds. 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