World Economy

NZ Inflation May Rise

NZ Inflation May RiseNZ Inflation May Rise

Consumer confidence in New Zealand increased in June, beginning to recover after dipping the previous month, and expectations of higher inflation also rose, a survey showed, Yahoo reported. The ANZ-Roy Morgan consumer confidence index edged up to 118.9 from 116.2 in the previous month. A reading above 100 shows optimism, while below that indicates pessimism. Expectations for consumer price inflation over the next two years rose to 3.8% from 3.3% in the previous survey. “The New Zealand economy is chugging along pretty well, despite clear strains in the dairy sector and the unease offshore,” Australia & New Zealand Bank chief economist Cameron Bagrie said.