CITIGROUP’s Australia and New Zealand chief economist Josh Williamson expects New Zealand Q2 CPI to record its strongest quarterly rise in nearly four years, led by a sharp jump in fuel prices. The surge in tradeable-goods inflation was largely in line with RBNZ expectations and masked a milder 0.4% increase in non-tradeable inflation. The RBNZ has begun tightening; some economists say the central bank may need around three further rate hikes to return the official cash rate to neutral.