This is just a data post. New Zealand Q1 consumer price index+0.9% q/q (expected +0.8%, prior +0.6%)+3.1% vs year ago (expected +2.9%, prior +3.1%)Non-tradables +1.1% q/q Non-tradables +3.5% y/yA shorthand way of thinking about 'non tradeables' is domestically generated inflation. I'll have more to come on this separately, details and implications. NZD jumped: This article was written by Eamonn Sheridan at investinglive.com.