Inflation in New Zealand
New Zealand - Inflation
Inflation jumps to over 10-year high in Q3
Consumer prices soared 2.2% from the previous quarter in Q3, coming in above Q2’s 1.3% jump. Moreover, the reading surprised market expectations and marked the fastest quarter-on-quarter increase since Q4 2010. In terms of specific categories, higher prices for housing and household utilities, food and transport drove the quarter-on-quarter surge in prices.
Meanwhile, inflation jumped to 4.9% in Q3 from 3.3% in Q2, logging the fastest print since Q3 2010 and moving further above the Central Bank’s 1.0%-3.0% target band.
Our panelists see inflation averaging 2.1% in 2022, unchanged from last month’s forecast, and 2.0% in 2023.
New Zealand - Inflation Data
|Inflation Rate (CPI, annual variation in %)||0.3||0.6||1.9||1.6||1.6|
5 years of economic forecasts for more than 30 economic indicators.
New Zealand Inflation Chart
Source: Statistics New Zealand and FocusEconomics calculations.
New Zealand Facts
|Bond Yield||1.67||1.20 %||Dec 30|
|Exchange Rate||0.67||-1.69 %||Jan 01|
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October 25, 2021
Consumer prices soared 2.2% from the previous quarter in Q3, coming in above Q2’s 1.3% jump.
October 14, 2021
The ANZ-Roy Morgan consumer confidence indicator fell to 104.5 in September from August’s 109.6.
October 14, 2021
The ANZ bank business outlook indicator weakened in October.
October 6, 2021
At its 6 October meeting, the Reserve Bank of New Zealand (RBNZ) decided to hike the official cash rate to 0.50% from its record low of 0.25%, marking the first increase in seven years.
September 17, 2021
GDP expanded 2.8% in seasonally-adjusted quarter-on-quarter terms in Q2, as growth in external demand surged amid easing Covid-19 restrictions.