ONLY CHARTS #632
NZ monthly CPI, NZ composite PMI, NZ consumer spending, NZ job ads, US consumer sentiment & inflation expectations, Aus RBA vs market economist forecasts, Aus gasoline sales
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1. Food prices in New Zealand (19% CPI weight) rose just +0.1% m/m and +1.9% y/y in July in original terms and again fell slightly post seasonal adjustment.
2. Kiwi food prices rose +0.5% in 3m/3m terms in July. Grocery inflation (+1.4% q/q) and eating out (+1.3% q/q) were partly offset by softer outcomes for other categories.
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