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Infrastructure, Nato, local government, regulation, tax
Brent Edwards
Sat, 28 Jun 2025
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Inflation expectations nudge higher in June to 4.9%
Consumer inflation expectations have risen off the back of rising costs for household essentials, such as food.
The ANZ-Roy Morgan Consumer Confidence Index rose six points to 98.8 in June.
The proportion of households thinking now was a good time to buy a major household item – a key retail indicator – gained three points but was still soft at -7.
Inflation expectations nudged higher to 4.9%, the highest since April 2023. ANZ chief economist Sharon Zollner put the blame on recent food price gains.
“Households might be sceptical but domestic inflation is on the retreat, and that should lay the path for the RBNZ to ultimately be able to shore up the economic recovery with a little more monetary easing.”
Economists broadly expect the central bank to cut the official cash rate by 25 basis points next month to 3%.
Investore adds another Bunnings for $43m
Listed large format retail property company Investore Property has entered into an unconditional agreement for the purchase of Bunnings New Lynn, for $43 million. The 11,000-square metre property, at 2-12 Titirangi Road, holds a weighted average lease term of seven years and an initial yield of 6.1%. Investore chair Mike Allen said the lease also has the benefit of a structured rental growth profile. Allen said that, following the acquisition, expected on July 4, Investore’s portfolio weighting to the Auckland market will increase from 38% to 40% on the basis of contract rental. It will take its exposure to Bunnings to a fifth of its $1 billion portfolio.
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