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Tuesday, the latest Survey of Expectations report from the Reserve Bank of New Zealand showed that business managers expect a 0.4% rise in the consumer price index for the September quarter, on a quarterly basis, unchanged from their expectations in the second quarter. For the fourth quarter, managers are expecting a 0.5% increase.
On an annual basis, respondents expect a 0.8% rise in the consumer price index for the year to September quarter and a 1.7% increase for the year to December quarter.
The average one-year-ahead inflation expectation stood at 1.8%, unchanged from the June quarter survey. The two-year-ahead expectations increased to 2.3% for the third quarter from 2.2% in the second quarter. The median two-year rate is 2.2%.
The Reserve Bank of New Zealand (RBNZ) Survey of Expectations is quarterly survey of business managers in New Zealand. The respondents are asked about their expectations for future outcomes regarding a rage of macro economic data, including inflation.
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