WELLINGTON: New Zealand’s near-term rate of inflation is expected to slow in the third quarter of 2022, a survey showed on Monday.

The Reserve Bank of New Zealand’s (RBNZ) quarterly survey of expectations showed business managers forecast annual inflation to average 4.86% over the coming year, from 4.88% in the previous survey in June.

The challenge of rising inflation

Two-year inflation expectations - seen as the time frame when RBNZ policy action will filter through to prices - is seen falling to 3.07% from 3.29%.