The Selected Price Indexes (SPI) for May came in broadly as expected, reinforcing the downside risks to ANZ Bank’s Q2 CPI forecast. Accordingly, ANZ New Zealand economists have downgraded the bank’s Q2 CPI forecast (due July 21) from 1.8% q/q to 1.5% q/q (May MPS: 1.6% q/q). “This would see annual inflation come in at […]