NZ Stocks Rise Amid Ongoing Inflation Pressures

New Zealand stocks showed resilience in the face of Wall Street's decline, rising by 0.46% to 13,929.67 on the S&P/NZX 50 index.

The increase came despite a 0.7% drop in the S&P 500 and a 1.3% fall in the Nasdaq overnight.

The data also revealed that producer prices rose 4.1% from a year earlier, indicating lingering inflation pressures for local businesses.

This suggests that higher input costs may take time to show up on shelves as consumer inflation has cooled.