In the third quarter, consumer prices rose 0.3% over the previous period, which mirrored the increase recorded in the second quarter. According to the statistical institute, "the increase in the CPI reflects higher housing-related prices and seasonally higher vegetable prices". As a result of the subdued reading, annual headline inflation fell from 1.0% in the second quarter to 0.8% in the third quarter, undershooting market expectations, which had inflation remaining at 1.0%. The third quarter reading represents the lowest level in over a decade and, at the current level, inflation remains below the Central Bank's inflation target range of 2.0% plus/minus 1.0%. The Reserve Bank of New Zealand expects inflation to average 1.8% in the fiscal year 2012 (ending March 2013). For the fiscal year 2013 (ending March 2014), the Bank forecasts inflation to remain at 1.8%.
New Zealand Inflation
Inflation falls to record-low in Q3
October 16, 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.