In the second quarter, consumer prices rose 0.3% over the previous three-month period, which was below the 0.5% increase recorded in the first quarter and fell short of market expectations of a 0.5% rise. According to the statistical institute, higher prices for electricity and fresh food more than compensated for lower prices for telecommunications. As a result of the subdued quarterly increase, annual headline inflation declined from 1.6% in the first quarter to 1.0% in the second quarter, which represents the lowest level in 13 years. At the current level, inflation remains at the lowest margin of Central Bank's inflation target range of 2.0% +/- 1.0%. The Reserve Bank of New Zealand expects inflation to average 1.9% in the fiscal year 2012 (ending March 2013). For the fiscal year 2013 (ending March 2014), the Bank forecasts inflation to average 2.1%.
New Zealand Inflation
Inflation falls to lowest level in over a decade
July 17, 2012
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New Zealand Economic News
October 19, 2016
In Q3, consumer prices edged down from the quarter-on-quarter seasonally-adjusted 0.4% increase observed in Q2 to 0.2%.
September 30, 2016
Economic sentiment among New Zealand businesses rebounded in September after declining for two consecutive months.
September 22, 2016
At its meeting held on 22 September, the Reserve Bank of New Zealand (RBNZ) decided to keep the Official Cash Rate (OCR) at 2.00%.
September 19, 2016
New Zealanders’ confidence rose in Q3 after having deteriorated in the previous two quarters.
September 15, 2016
GDP grew a seasonally-adjusted 0.9% over the previous quarter in Q2, which matched the result tallied in Q1.