Inflation in New Zealand
New Zealand - Inflation (end of period)
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 (eop) Data
|Inflation Rate (CPI, annual variation in %, eop)||-||-||-||-||-|
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||1.56||1.20 %||Jul 11|
|Exchange Rate||0.67||-1.69 %||Jul 11|
|Stock Market||4,659||0.11 %||Jul 11|
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July 16, 2019
Consumer prices increased 0.6% in Q2 2019 over the previous quarter, up notably from Q1 0.1% uptick, according to Statistics New Zealand.
June 28, 2019
The ANZ-Roy Morgan consumer confidence indicator rose to 122.6 in June (May: 119.3), moving further above the 100-point threshold that separates optimism from pessimism among consumers. Consumers were more optimistic about their current financial situation, and they also grew more confident about their future financial conditions.
June 28, 2019
The ANZ bank business outlook indicator fell by 6.1 points in June, with a net 38.1% firms reporting that they expect general business conditions to deteriorate this year.
June 26, 2019
On 26 June, the Reserve Bank of New Zealand (RBNZ) left the official cash rate (OCR) unchanged at an all-time low of 1.50%.
June 20, 2019
The economy expanded 0.6% in quarter-on-quarter seasonally-adjusted terms in the first quarter, unchanged from Q4 2018’s result.