RBNZ's measure of core inflation at 1.7% y-o-y in Q3

[WELLINGTON] The Reserve Bank of New Zealand (RBNZ) said on Wednesday that its sectoral factor model of core inflation in the third quarter was 1.7 per cent, unchanged versus the year ago quarter.

The release came after the country's official statistics agency released figures showing the annual inflation rate dropped to 1.5 per cent in the year to the end of September.

Both measures are closely watched by the RBNZ, which has a monetary policy goal of achieving 1 per cent to 3 per cent inflation.

REUTERS