WELLINGTON, July 17 (Reuters) - The Reserve Bank of New Zealand (RBNZ) said on Wednesday that its sectoral factor model of core inflation was 3.6% year-on-year in the second quarter down from 4.2% in the prior quarter.
The country's official statistics agency earlier in the day released figures that showed the annual consumer price index had fallen to its lowest level in three years and was now at 3.3%.
Both measures are closely watched by the RBNZ, which has a monetary policy goal of keeping inflation within its target range of 1% to 3%. (Reporting by Lucy Craymer; Editing by Muralikumar Anantharaman)
