RBNZ core inflation at 1.7% in third quarter

FILE PHOTO: Two people walk towards the entrance of the Reserve Bank of New Zealand located in the New Zealand capital city of Wellington, March 22, 2016. REUTERS/Rebecca Howard/File Photo

SYDNEY (Reuters) - The Reserve Bank of New Zealand (RBNZ) said on Friday that its sectoral factor model of core inflation in the third quarter was 1.7%, unchanged versus the year-ago quarter.

The data release came after the country’s official statistics agency released figures showing the inflation rate rose 0.7% in the September-quarter as coronavirus curbs eased, but still falling short of expectations.

Both measures are closely watched by the RBNZ, which has spent almost a decade trying to get inflation above the middle of its 1%-3% target band.

Reporting by Renju Jose; Editing by Muralikumar Anantharaman