New Zealand Quarterly Inflation Rate Slows to 4-Year Low in Q2

2024-07-16 23:02 By Mojdeh Kazemi 1 min. read

The Consumer Price Index in New Zealand rose by 0.4% in the June quarter of 2024 over the previous period following a 0.6% increase in the three months to March.

It pointed to the lowest figure since the second quarter of 2020 and was slightly below market estimates of 0.6% rise.

Main contributors to the rise were: housing and household utilities (+1.1% vs +0.7% in Q1), miscellaneous goods and services (+1.8% vs +2% in Q1); communication (+1.3% vs +0.1% in Q1)and alcoholic beverages and tobacco (+0.8% vs +3.4% in Q1).

On the other hand, the downward pressure came from recreation and culture (-1.9% vs +2.4% in Q1); Transport (-0.5% vs -2.5% in Q1).

On an annual basis, prices rose by 3.3% in the June quarter, following a 4% jump in the previous period.



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