New Zealand’s near-term inflation expected to slow, central bank survey shows

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Pedestrians walk near the main entrance to the Reserve Bank of New Zealand located in central Wellington, New Zealand

WELLINGTON – New Zealand’s near-term rate of inflation is expected to slow in the third quarter of 2022, a survey showed on Monday.

The Reserve Bank of New Zealand’s (RBNZ) quarterly survey of expectations showed business managers forecast annual inflation to average 4.86% over the coming year, from 4.88% in the previous survey in June.

Two-year inflation expectations – seen as the time frame when RBNZ policy action will filter through to prices – is seen falling to 3.07% from 3.29%.

(Reporting by Lucy Craymer; Editing by Christopher Cushing)