New Zealand Input PPI Accelerates to 2.9% in Q2, Doubles Forecast

New Zealand's Q2 input PPI surged to 2.9% q/q, more than double the 1.3% consensus, driven by higher fuel, power, and raw material costs. Output PPI also beat expectations at 1.6% versus 0.8% forecast. The significant upside surprise signals intensifying producer price pressures that may support NZD and influence RBNZ policy expectations.