New Zealand Inflation Q3 2019

New Zealand

New Zealand: Inflation softens in Q3

October 16, 2019

Consumer prices increased 0.7% in Q3 2019 over the previous quarter, up slightly from Q2’s 0.6% rise, according to Statistics New Zealand. The print showed that housing and household utilities, and food were the categories that contributed the most to the quarter-on-quarter increase in prices, only partially offset by lower price for clothing and footwear and communication.

Meanwhile, inflation dropped to 1.5% in Q3 following Q2’s 1.7%, and thus moved further away from 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 Q3  2019

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

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