New Zealand's consumer price index surges 5.6% in September 2023

The CPI witnessed a 1.8 per cent increase in the September 2023 quarter alone, significantly influenced by the transport sector.

The country’s non-tradeable inflation was 6.3 per cent for the 12 months ending in September 2023. On the other hand, tradeable inflation was at 4.7 per cent during the same period. The tradeable inflation rate was notably driven by specific categories of goods, as per Stats NZ.

“Prices are still increasing but are increasing at rates lower than we have seen in the previous few quarters,” said consumers prices senior manager Nicola Growden.

ALCHEMPro News Desk (DP)