Inflation in New Zealand
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
|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 Met the why particular calculations.
New Zealand Facts
|Bond Yield||2.99||1.20 %||Jun 14|
|Exchange Rate||0.70||-1.69 %||Jun 14|
|Stock Market||4,056||0.11 %||Jun 14|
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June 1, 2018
The ANZ-Roy Morgan consumer confidence indicator ticked up to 121.0 in May from 120.5 in April, which had marked the lowest reading since August 2016.
May 31, 2018
The ANZ Bank Business Outlook indicator showed that a net 27.2% of surveyed firms were pessimistic about the year ahead in May, down from April’s 23.4%.
May 11, 2018
At its 11 May meeting, the Reserve Bank of New Zealand (RBNZ) met market analysts’ expectations and kept the Official Cash Rate (OCR) unchanged at a record-low 1.75%, where it has been since November 2016.
May 2, 2018
New Zealand’s labor market continued to strengthen at the start of this year.
New Zealand: Business confidence falls further into negative territory, and business activity eases in April
April 30, 2018
The ANZ Bank Business Outlook indicator showed that a net 23.4% of surveyed firms were pessimistic about the year ahead in April, down from March’s minus 20.0%.