New Zealand Inflation Rate  1918-2017 | Data | Chart | Calendar | Forecast

Consumer prices in New Zealand increased 1.7 percent year-on-year in the second quarter of 2017, below market expectations of 1.9 percent and down from 2.2 percent in the previous period which was the highest in five years. The inflation rate eased for the first time in six quarters mainly due to a softer increase in prices of housing, utilities and transport and a steeper decline in cost of communication. Inflation Rate in New Zealand averaged 4.72 percent from 1918 until 2017, reaching an all time high of 44 percent in the third quarter of 1918 and a record low of -15.30 percent in the first quarter of 1923.

New Zealand Inflation Rate
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New Zealand Inflation Rate Slows To 1.7% In Q2


Consumer prices in New Zealand increased 1.7 percent year-on-year in the second quarter of 2017, below market expectations of 1.9 percent and down from 2.2 percent in the previous period which was the highest in five years. The inflation rate eased for the first time in six quarters mainly due to a softer increase in prices of housing, utilities and transport and a steeper decline in cost of communication.

Prices rose at a slower pace for housing and utilities (3.1 percent from 3.3 percent in Q1), with purchase of new housing up 6.4 percent (6.7 percent in Q1). Inflation also slowed for transport (1.2 percent from 3.5 percent in Q1); miscellaneous goods and services (1.7 percent from 1.9 percent); alcoholic beverages and tobacco (3.7 percent from 3.9 percent). In addition, communication prices decreased 4.6 percent (-3.1 percent in Q1), with large decreases for telecommunications services and equipment. In contrast, food cost accelerated (2 percent from 1.6 percent). 

On a quartely basis, consumer prices were flat: food prices rose 0.7 percent, influenced by higher prices for vegetables (up 19 percent). Housing and household utilities prices rose 0.8 percent, influenced by purchase of new housing (up 1.8 percent). On the other hand, transport prices fell 1.3 percent, with cheaper domestic airfares (down 15 percent).

Statistics New Zealand | Joana Taborda | joana.taborda@tradingeconomics.com
7/18/2017 12:45:41 PM


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Calendar GMT Actual Previous Consensus Forecast (i)
2017-01-25 09:45 PM Q4 1.3% 0.4% 1.2% 1.1%
2017-04-19 10:45 PM Q1 2.2% 1.3% 2% 1.9%
2017-07-17 10:45 PM Q2 1.7% 2.2% 1.9% 2%
2017-10-17 09:45 PM Q3 1.7% 2.2%


New Zealand Prices Last Previous Highest Lowest Unit
Inflation Rate 1.70 2.20 44.00 -15.30 percent [+]
Inflation Rate Mom 0.00 1.00 8.91 -0.81 percent [+]
Consumer Price Index CPI 1226.00 1226.00 1226.00 34.30 Index Points [+]
Core Consumer Prices 1228.00 1227.00 1228.00 629.50 Index Points [+]
Core Inflation Rate 1.74 2.16 7.91 0.00 percent [+]
GDP Deflator 1168.00 1152.00 1168.00 589.00 Index Points [+]
Producer Prices 1083.00 1068.00 1083.00 165.78 Index Points [+]
Export Prices 1124.00 1041.00 1269.00 85.30 Index Points [+]
Import Prices 784.00 764.00 1128.00 70.43 Index Points [+]
CPI Transportation 1071.00 1085.00 1178.00 796.00 Index Points [+]
Food Inflation 3.00 3.10 10.81 -1.99 percent [+]
Inflation Expectations 2.10 2.20 8.30 1.60 percent [+]


New Zealand Inflation Rate Notes

In New Zealand, the most important category in the consumer price index is Housing and Utilities (24.2 percent of total weight). Food and Non-Alcoholic Beverages accounts for 18.8 percent; Transport for 15 percent; Recreation and Culture for 9.4 percent; Miscellaneous Goods and Services for 7.4 percent and Alcoholic beverages and Tobacco for 7 percent. Furniture, Household Goods and Maintenance; Clothing and Footwear; Health; Communication and Education account for the remaining 18.2 percent of total weight. This page provides - New Zealand Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand Inflation Rate - actual data, historical chart and calendar of releases - was last updated on August of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
1.70 2.20 44.00 -15.30 1918 - 2017 percent Quarterly



inflation rate by Country

Last
Australia 1.90 Jun/17
Brazil 2.71 Jul/17
Canada 1.20 Jul/17
China 1.40 Jul/17
Euro Area 1.30 Jul/17
France 0.70 Jul/17
Germany 1.70 Jul/17
India 2.36 Jul/17
Indonesia 3.88 Jul/17
Italy 1.10 Jul/17
Japan 0.40 Jun/17
Mexico 6.44 Jul/17
Netherlands 1.30 Jul/17
Russia 3.90 Jul/17
South Korea 2.20 Jul/17
Spain 1.50 Jul/17
Switzerland 0.30 Jul/17
Turkey 9.79 Jul/17
United Kingdom 2.60 Jul/17
United States 1.70 Jul/17