Inflation in New Zealand

New Zealand Inflation | Economic News & Forecasts

New Zealand - Inflation

Inflation accelerates on higher fuel and housing costs in Q2

Consumer prices increased 0.6% in Q2 2019 over the previous quarter, up notably from Q1 0.1% uptick, according to Statistics New Zealand. The print showed that a notable rebound in petrol prices was behind the acceleration, which was also fueled by faster quarter-on-quarter increases in prices for clothing and footwear, and by a bounce back in prices for transport, and for household contents and services. On the other hand, softer price increases were recorded for the food, and alcoholic beverages and tobacco groups, while the fall in prices for communication intensified.

In a similar fashion, inflation rose to 1.7% in Q2 on higher fuel and housing costs, following Q1’s 1.5%, and thus moving closer to the Central Bank’s 2.0% target.

FocusEconomics panelists expect inflation to average 2.0% in 2019, which is unchanged from last month’s forecast, and 2.0% again in 2020.

New Zealand - Inflation Data

2013  2014  2015  2016  2017  
Inflation Rate (CPI, annual variation in %)1.1  1.2  0.3  0.6  1.9  

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New Zealand Inflation Chart


New Zealand Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Statistics New Zealand and FocusEconomics calculations.

New Zealand Facts

ValueChangeDate
Bond Yield1.061.20 %Sep 04
Exchange Rate0.64-1.69 %Sep 04
Stock Market4,7780.11 %Sep 04

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