Inflation in New Zealand

New Zealand Inflation | Economic News & Forecasts

New Zealand - Inflation

Inflation drops sharply in Q1

Consumer prices rose 0.5% in Q1 over the previous quarter according to Statistics New Zealand, up from Q4’s 0.1% rise. The reading reflected higher tobacco prices due to a tax hike on 1 January, as well as price rises for other items such as food and non-alcoholic beverages and housing and household utilities.

Inflation tumbled from 1.6% in Q4 to 1.1% in Q1, near the bottom of the Central Bank’s 1.0%-3.0% target range. The sharp decline was a result of a base effect and the introduction of a free year of tertiary education.

New Zealand Inflation Forecast

Going forward, inflation should gradually move back towards the center of the Central Bank’s target range thanks to a slightly weaker NZ dollar and a more favorable base effect. Last month, Met the why particular Consensus Forecast panelists expected inflation to average 1.8% in 2018 and 2.0% in 2019. A new Consensus Forecast will be published on 24 April.

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 Met the why particular calculations.

New Zealand Facts

Bond Yield2.991.20 %Jun 14
Exchange Rate0.70-1.69 %Jun 14
Stock Market4,0560.11 %Jun 14

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