Inflation in New Zealand
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
|Inflation Rate (CPI, annual variation in %)||1.1||1.2||0.3||0.6||1.9|
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||1.06||1.20 %||Sep 04|
|Exchange Rate||0.64||-1.69 %||Sep 04|
|Stock Market||4,778||0.11 %||Sep 04|
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September 2, 2019
The ANZ-Roy Morgan consumer confidence indicator rose to 118.2 in August (July: 116.4), moving further above from the 100-point threshold that separates optimism from pessimism among consumers. Consumers had better assessments about their current financial situation compared to one year ago, and they also grew more optimistic about their future personal finances .
August 29, 2019
The ANZ bank business outlook indicator fell by 8.0 points in August, with a net 52.3% of firms reporting that they expect general business conditions to deteriorate this year.
August 7, 2019
On 7 August, the Reserve Bank of New Zealand (RBNZ) surprised market analysts by slashing the official cash rate (OCR) by 50 basis points to an all-time low of 1.00%.
August 6, 2019
The seasonally-adjusted unemployment rate fell to 3.9% in Q2, down from 4.2% in Q1.
August 2, 2019
The ANZ-Roy Morgan consumer confidence indicator dropped to 116.4 in July (June: 122.6), moving closer to the 100-point threshold that separates optimism from pessimism among consumers. Consumers were less optimistic about their current financial situation, and they also grew less confident about their future financial conditions.