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New Zealand Selected Price Indexes Data in August Confirms Downside Risk to September Quarter CPI Forecast, ANZ Says

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The selected price indexes data for New Zealand in August confirmed the downside risk to ANZ's September quarter consumer price index (CPI) forecast of 0.8% on a quarterly basis and 3.9% on an annual basis, the bank said in a note on Friday.

The selected price indexes lifted 0.2% month-over-month, marginally stronger than the 0.1% forecast from the lender.

However, information from the selected price indexes data is consistent with the bank's non-tradable CPI forecast of 1.1% growth quarter-over-quarter.

The downside to its forecast is coming from the tradable side of the CPI basket, which is more likely to be looked through by the Reserve Bank of New Zealand's monetary policy committee.

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New Zealand Job Ads Rise 0.6% in August, Up 9.7% Annually, Says Seek

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Saudi Central Bank Lifts Rates by 25 Basis Points

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