NZ Q2 Q2 jumps to 4.1%
But RBNZ's own inflation model see Q2 2026 at 2.7% y/y
The red hot New Zealand Q2 CPI has supported the Kiwi. Arriving at 4.1% y/y, it beats most estimate and once again overshoots RBNZ's target range. Energy is the dominating factor that accounted for 1.2% y/y growth. In RBNZ's own sectoral factor model, they are seeing Q2 inflation at 2.7% y/y only.
NZD/USD is still trading 0.46% higher at 0.5865.