This is just a data post.

New Zealand Q1 consumer price index

• +0.9% q/q (expected +0.8%, prior +0.6%)
• +3.1% vs year ago (expected +2.9%, prior +3.1%)
• Non-tradables +1.1% q/q
• Non-tradables +3.5% y/y

A shorthand way of thinking about ‘non tradeables’ is domestically generated inflation.

I’ll have more to come on this separately, details and implications. ADED:

• result underscores the stickiness of inflation

NZD jumped:

This article was written by Eamonn Sheridan at investinglive.com.



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