New Zealand Inflation Q4 2019

New Zealand

New Zealand: Inflation accelerates in Q4

January 24, 2020

Consumer prices increased 0.5% in Q4 2019 over the previous quarter, down slightly from Q3’s 0.7% rise but beating analysts’ expectations of a 0.4% increase, according to Statistics New Zealand. The print showed that prices for non-tradables rose more than prices for tradables. In terms of specific categories, international air transport, actual rental for housing and petrol were the categories that contributed the most to the quarter-on-quarter increase in prices.

Meanwhile, inflation rose to 1.9% in Q4 following Q3’s 1.5%, and thus gazed the Central Bank’s 2.0% target.

FocusEconomics panelists expect inflation to average 2.0% in 2020, which is unchanged from last month’s forecast, and 2% again in 2021.


Author: Massimo Bassetti, Economist

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New Zealand Inflation Chart


New Zealand Inflation Q4  2019

Note: Quarter-on-quarter and annual variation of consumer price index in %.
Source: Statistics New Zealand and FocusEconomics calculations.


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