Consumer prices in New Zealand increased 1.9 percent year-on-year in the third quarter of 2017, above market expectations of 1.8 percent and up from 1.7 percent in the previous period. The inflation rate regained footing after easing in Q2 for the first time in six quarters.
In the third quarter, the food group (2.8 percent vs 2.0 percent); alcoholic beverages & tobacco (4.5 percent vs 3.7 percent); transport (2.0 percent vs 1.2 percent); clothing & footwear (0.5 percent vs 0.1 percent); and miscellaneous goods and services (2.5 percent vs 1.7 percent) were the main triggers behind the headline’s increase. In contrast, prices of household contents & services declined by 1.0 percent following a 0.6 percent climb in the previous quarter. The health component grew at a more moderate pace of 2.0 percent (vs 2.8 percent in Q2).
On a quarterly basis, consumer prices increased 0.5 percent in the third quarter of 2017, up from the 0.0 percent recorded in the previous period and market expectations of a 0.4 percent rise. Prices of food climbed 1.1 percent after a 0.7 percent increase in the previous quarter. Alcoholic beverages & tobacco jumped 0.7 percent following a 0.1 percent uptick in the previous three months. Meanwhile, household contents & services rebounded by 0.7 percent after a 0.9 percent decline in Q2.
10/16/2017 10:52:19 PM