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

New Zealand’s consumer prices increased by 2.2 percent year-on-year in the first quarter of 2017, up from a 1.3 percent gain in the previous period and above market expectations of 2 percent. It was the highest inflation rate since the third quarter of 2011, and was mainly explained by the food group, which rose 1.6 percent following a 0.6 percent upswing in the previous quarter; and by the transport component, which increased by 3.5 percent after a 1.0 percent decline. On a quarterly basis, consumer prices rose 1.0 percent following a 0.4 percent increase. 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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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-10-17 09:45 PM Q3 0.2% 0.4% 0.1% 0.3%
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 2.2% 2.64%
2017-10-17 09:45 PM Q3 2.87%




New Zealand Inflation Rate At Over 5-Year High Of 2.2%


New Zealand’s consumer prices increased by 2.2 percent year-on-year in the first quarter of 2017, up from a 1.3 percent gain in the previous period and above market expectations of 2 percent. It was the highest inflation rate since the third quarter of 2011, as prices for food and transport rose.

Year-on-year, cost for food rose 1.6 percent (from 0.6 percent in Q4 2016), boosted by a 4.4 percent gain in prices for fruit and vegetables.

Transport prices went up 3.5 percent (from -1 percent in Q4), with petrol (12 percent) partially offset by falls in other private transport services (vehicle relicensing fees).

Housing-related prices continued to grow, up 3.3 percent in the March 2017 year, the same rise as in the previous period. Prices increased for newly built houses, excluding land (6.7 percent), and for housing rentals (2.3 percent). Newly built houses, excluding land, were up 8 percent in Auckland and 3.6 percent in Christchurch.

Tradable prices increased 1.6 percent (from -0.1 percent in Q4), while prices for non-tradables advanced 2.5 percent (from 2.4 percent in Q4).

Excluding petrol, and cigarettes and tobacco, the CPI showed a 1.5 percent gain.

On a quarterly basis, consumer prices rose 1 percent, following a 0.4 percent increase in the previous period and above market expectations of a 0.8 percent gain. Prices of alcoholic beverages and tobacco rebounded 4 percent following a 0.3 percent decline in the previous quarter. The food group also rebounded 2.2 percent from 1.2 percent fall in December of 2016 quarter. Meanwhile, prices in the transport group grew at a softer pace of 0.8 percent (from 3.7 percent in the previous quarter).

Statistics New Zealand | Joana Ferreira | joana.ferreira@tradingeconomics.com
4/19/2017 11:54:39 PM


Recent Releases

New Zealand Inflation Rate Highest Since 2014
Consumer prices in New Zealand jumped 1.3 percent year-on-year in the fourth quarter of 2016, compared to an upwardly revised 0.4 percent rise in the previous period and above market expectations of 1.2 percent. It was the highest level since the third quarter of 2014 mainly due to higher prices of newly built houses, excluding land and rentals for housing.
Published on 2017-01-25

New Zealand Inflation Rate Eases to 0.2% in Q3
Consumer prices in New Zealand increased 0.2 percent year-on-year in the third quarter of 2016, easing from a 0.4 percent rise in each of the previous two quarters and above market estimates of 0.1 percent. Housing-related prices made the biggest upward contribution, partially offset by a fall in transport cost.
Published on 2016-10-17

New Zealand Inflation Rate Steady at 0.4% in Q2
Consumer prices in New Zealand rose 0.4 percent year-on-year in the June quarter of 2016, the same as in the previous period and lower than market expectations of a 0.5 percent increase. Prices went up for newly built houses, excluding land and rentals for housing while lower prices for transport made the main downward contribution.
Published on 2016-07-18

New Zealand Inflation Rate Matches Expectations
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Published on 2016-04-17



New Zealand Prices Last Previous Highest Lowest Unit
Inflation Rate 2.20 1.30 44.00 -15.30 percent [+]
Inflation Rate Mom 1.00 0.40 8.91 -0.81 percent [+]
Consumer Price Index CPI 1226.00 1214.00 1226.00 34.30 Index Points [+]
Core Consumer Prices 1227.00 1216.00 1227.00 629.50 Index Points [+]
Core Inflation Rate 2.16 1.42 7.91 0.00 percent [+]
GDP Deflator 1152.00 1131.00 1152.00 589.00 Index Points [+]
Producer Prices 1068.00 1059.00 1077.00 165.78 Index Points [+]
Export Prices 1040.00 992.00 1269.00 85.30 Index Points [+]
Import Prices 764.00 770.00 1128.00 70.43 Index Points [+]
Cpi Transportation 1085.00 1076.00 1178.00 796.00 Index Points [+]
Food Inflation 0.20 1.30 10.81 -1.99 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 May of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
2.20 1.30 44.00 -15.30 1918 - 2017 percent Quarterly



inflation rate by Country

Last
Australia 2.10 Mar/17
Brazil 4.08 Apr/17
Canada 1.60 Apr/17
China 1.20 Apr/17
Euro Area 1.90 Apr/17
France 1.20 Apr/17
Germany 2.00 Apr/17
India 2.99 Apr/17
Indonesia 4.17 Apr/17
Italy 1.90 Apr/17
Japan 0.40 Apr/17
Mexico 5.82 Apr/17
Netherlands 1.60 Apr/17
Russia 4.10 Apr/17
South Korea 1.90 Apr/17
Spain 2.60 Apr/17
Switzerland 0.40 Apr/17
Turkey 11.87 Apr/17
United Kingdom 2.70 Apr/17
United States 2.20 Apr/17