Inflation in New Zealand
New Zealand - Inflation (end of period)
Inflation at over eight-year high in Q1
Consumer prices increased at a one-and-a-half-year high rate of 0.8% in Q1 2020 over the previous quarter, up from Q4’s 0.5% rise and beating analysts’ expectations of a 0.4% increase, according to Statistics New Zealand. In terms of specific categories, food, alcoholic beverages and tobacco, and housing and household utilities were the categories that contributed the most to the quarter-on-quarter increase in prices. On the other hand, prices for transport fell the most.
Meanwhile, inflation climbed to an over eight-year high of 2.5% in Q1 following Q4’s 1.9%, again beating analysts’ forecasts of a 2.1% increase and moving above 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.
New Zealand - Inflation (eop) Data
|Inflation Rate (CPI, annual variation in %, eop)||0.8||0.1||1.3||1.6||1.9|
5 years of economic forecasts for more than 30 economic indicators.
New Zealand Inflation (eop) 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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New Zealand: Government approves massive budget stimulus to buttress economy ahead of September elections
May 21, 2020
On 14 May, the government unveiled an NZD 50 billion (USD 30 billion) stimulus package, largely focused on supporting employment in an effort to kickstart the economy following the impact of the coronavirus outbreak and consequent lockdown.
May 13, 2020
On 13 May, the Reserve Bank of New Zealand (RBNZ) decided to further ramp up its asset purchasing program in order to reduce borrowing costs and soften the economic impact from Covid-19.
May 6, 2020
The seasonally-adjusted unemployment rate rose to 4.2% in Q1 from 4.0% in the previous quarter.
May 1, 2020
The ANZ-Roy Morgan consumer confidence indicator collapsed to 84.8 in April from March’s 106.1, hit by tough lockdown measures.
April 24, 2020
The ANZ bank business outlook indicator worsened further in April, hit by lockdown measures enacted to limit the spread of coronavirus.