The pace of economic growth has taken a step down as conditions in the New Zealand economy have become increasingly mixed.
In terms of retail spending, New Zealand households ended 2017 with a bang, and it looks like the party has continued in the early part of 2018. However, despite this firmness in spending levels, retail price inflation remains stubbornly low, writes Satish Ranchhod, Westpac senior
Since 2010, the overall level of retail prices in New Zealand has essentially been flat. That’s a big change from preceding years when retail prices were rising by around two percent annually. Westpac senior economist Satish Ranchhod explains why this is happening.