Inflation expected to remain above Reserve Bank target despite July price softening
Annual inflation is forecast to stay above the Reserve Bank's target range despite softer price growth recorded in July.
July price data shows food prices rose 0.1% for the month and 1.9% annually. Economists expect annual inflation to soften in the third quarter but still remain above the Reserve Bank of New Zealand's 1% to 3% target range.
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Inflation set to stay above target despite softer July prices
Annual inflation may be softer than expected in the third quarter but will remain above the Reserve Bank of New Zealand’s 1% to 3% target range, economists said after the July selected price indexes were published. Food prices rose 0.1%…