New Zealand Inflation Data Hits 30 -Year High

Consumer prices in New Zealand rose the most in three decades last quarter, reinforcing the outlook for higher interest rates after the Federal Reserve added momentum to the global withdrawal of pandemic-era stimulus.

New Zealand’s consumer price index for the October-December quarter was 5.9% higher than a year earlier, an acceleration from 4.9% in the July-September quarter, the statistics agency said early Thursday.