NZ CPI Preview: Release to show a 0.4% rise – Westpac

Analysts at Westpac Institutional Bank expect next Monday’s Consumers Price Index (CPI) release to show a 0.4% rise for the March quarter. NZD/USD trades at 0.5967.

Key quotes

“We expect a 0.4% rise in consumer prices for the March quarter, lifting the annual inflation rate to 2.1%.” 

“Our estimate is in line with market forecasts, and a touch below the 0.5% increase that the Reserve Bank expected in its February Monetary Policy Statement.” 

“We don’t expect this release to be marketmoving, with markets more focused on how the lockdown progresses.”