New Zealand's economy sees a glimmer of hope after recession, with inflation expected to return to target

Jinshi data, January 16th, New Zealand's long-term economic recession has brought a lot of pain, but the return is coming, and the inflation in the fourth quarter of 2024 is expected to return to the target level of 2.0%. West Pacific Bank expects that the CPI data to be released next week will show a quarter-on-quarter rise of 0.5% in the fourth quarter, and the inflation rate is expected to decline from 2.2% as of September to 2.1%. Economist Satis Randhawa said that this will be the lowest inflation rate since 2021, consistent with the forecast in the November monetary policy statement of the Reserve Bank of New Zealand. The basic trend of inflation seems to be more controlled than it has been for a long time.