New Zealand Q2 CPI Expected to Post Strongest Quarterly Gain in Nearly Four Years on July 17

According to Citi's chief economist Josh Williamson, New Zealand's second-quarter CPI is expected to record its strongest quarterly gain in nearly four years, primarily driven by sharp increases in fuel prices. Non-tradeable inflation, however, showed a more modest rise of 0.4%.

The Reserve Bank of New Zealand has already begun raising interest rates. Several economists project the central bank will need to increase rates three more times to bring the official cash rate back to neutral levels.