In the third quarter, consumer prices added 0.4% over the previous quarter, which was below the 1.0% increase observed in the second quarter and fell short of market expectations that consumer prices would rise 0.7%. The main driver behind the third quarter outturn was higher food prices, which was offset by lower prices for transport. As a result of the decrease, annual headline inflation dropped from 5.3% in the second quarter, its highest level in two decades, to 4.6% in the third quarter. Despite the fall, inflation remains above the Central Bank's inflation target of 2.0% 1.0%. The Central Bank expects inflation to overshoot its target and average 4.5% in the fiscal year 2011 (ending in March 2012) but fall back to 2.0% in fiscal 2012.
New Zealand Inflation
Inflation drops in third quarter
October 25, 2011
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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.