Results for inflation rate

The February Consumer Price Index reported inflation annual rate at 8.7%, a decline from 9.7% in the previous month, and lower than 9.1% in February 2022. Inflation has generally been easing from its peak of 14% in September 2022. The Reserve Bank’s Governor Tatafu Moeaki stated that “the February 2023 Monetary Policy Statement adjustment to the money supply and its exchange rate policy remains a priority to fight against inflation and will keep a tight stance where appropriate to minimize the negative impacts on families purchasing power especially the poorer and vulnerable.”