ANZ-Roy Morgan Consumer Confidence survey in New Zealand.
As part of the survey is an assessment of consumer Inflation expectations, comes in at 5.0% vs. the September survey at 5.1%
- Currently, consumer inflation expectations sit well below business inflation
expectations. This is a pretty unusual state of affairs, as figure 4 shows. The
RBNZ will be hoping consumers know something businesses don’t.
Historically, businesses have tended to be closer to the mark – but
consumers win the prize for seeing the surge coming first.