Annual inflation has slowed down in recent months, in line with predictions from economists.

The Consumer Price Index rose 4.7 percent in the year to December, down from 5.6 percent annually to September.

It's a big fall from the 7.3 percent peak for the year to June 2022.

Infometrics principal economist Brad Olsen says it's a positive step forward, but increased rental inflation means it's not safe yet.

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