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Business Weekly Economic Report 
Inflation's foundations crumble
Monday, 20 April 2009
  • Inflation is steadily on the wane from last year’s dizzying heights.  Q1 figures showed a moderate 0.3% qoq increase, bringing the annual inflation rate back down to 3%. 
  • The composition of inflation reinforced that underlying inflation pressures are likely to fall relatively rapidly over the next year.  Non-tradables inflation is now easing noticeably, primarily as housing-related inflation belatedly starts to reflect the weakness of housing construction activity.
  • It will be a quiet week in NZ, with just migration and credit card figures.  The international calendar is also quiet, the Green Shoots searchers will be watching existing and new home sales in the US for signs of stabilisation.

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Report Prepared by:

Jane Turner
ASB Economist
Phone: +64 9 374 8185
Fax: +64 9 302 0992






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