The annual inflation rate in New Zealand remained unchanged at 1.4 percent in the fourth quarter of 2020, well above market expectations of a 1 percent increase. It was the lowest inflation rate since the first quarter of 2018, amid the coronavirus pandemic. Non-tradable inflation jumped 2.8 percent after increasing 2.6 percent in the year to September. Prices of housing and household utilities increased 2.6 percent, with rentals up 2.9 percent. Meanwhile, food prices rose 2.5 percent, with prices of fruit and vegetables surging 8.6 percent. Also, liquor & tobacco inflation was recorded at 6 percent, with prices of cigarettes up 11 percent. On the flip side, transport prices decreased 3.7 percent, dragged by lockdowns and an 8.1 percent drop in private transport supplies and services. On a quarterly basis, consumer prices went up 0.5 percent following a 0.7 percent increase in the previous period. source: Statistics New Zealand
Inflation Rate in New Zealand averaged 4.61 percent from 1918 until 2020, 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. This page provides - New Zealand Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2021.
Inflation Rate in New Zealand is expected to be 0.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in New Zealand to stand at 0.90 in 12 months time. In the long-term, the New Zealand Inflation Rate is projected to trend around 1.20 percent in 2022, according to our econometric models.