The annual inflation rate in New Zealand climbed to 1.7 percent in the second quarter of 2019 from 1.5 percent in the previous period, matching market expectations. Prices rose further mainly due to cost of petrol. On a quarterly basis, consumer prices went up 0.6 percent, after rising 0.1 percent in the previous quarter, also matching forecasts. Inflation Rate in New Zealand averaged 4.65 percent from 1918 until 2019, 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.

Inflation Rate in New Zealand is expected to be 1.90 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 1.90 in 12 months time. In the long-term, the New Zealand Inflation Rate is projected to trend around 2.00 percent in 2020, according to our econometric models.

New Zealand Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-10-15 09:45 PM Inflation Rate YoY Q3 1.9% 1.5% 1.7% 1.7%
2019-01-22 09:45 PM Inflation Rate YoY Q4 1.9% 1.9% 1.8% 1.8%
2019-04-16 10:45 PM Inflation Rate YoY Q1 1.5% 1.9% 1.7% 1.8%
2019-07-15 10:45 PM Inflation Rate YoY Q2 1.7% 1.5% 1.7% 1.7%
2019-10-15 09:45 PM Inflation Rate YoY Q3 1.7% 1.9%



New Zealand Annual Inflation Rate Rises to 1.7% in Q2

The annual inflation rate in New Zealand climbed to 1.7 percent in the second quarter of 2019 from 1.5 percent in the previous period, matching market expectations. Prices rose further mainly due to cost of petrol.

Year-on-year, prices rebounded for transport (0.3 percent compared to -0.1 percent in Q1), of which private transport supplies and services (3 percent) namely petrol (3.3 percent); and household contents and services (1.7 percent compared to -0.8 percent). Additionally, cost advanced further for recreation & culture (1.8 percent compared to 0.8 percent); miscellaneous goods & services (2.6 percent compared to 2.5 percent); and health (1.7 percent compared to 0.9 percent). Also, prices declined less for clothing & footwear (-0.3 percent compared to -0.6 percent); and communication (-3.0 percent compared to -3.7 percent).

Meanwhile, prices eased for food (1.1 percent compared to 1.3 percent); housing & utilities (2.8 percent compared to 3.0 percent); alcoholic beverages & tobacco (3.5 percent compared to 4.2 percent); and education (1.6 percent compared to 1.7 percent). 

On a quarterly basis, consumer prices jumped 0.6 percent, after rising 0.1 percent in the previous quarter and also matching forecasts.


Statistics New Zealand | Mario | mario@tradingeconomics.com
7/16/2019 10:02:29 AM



New Zealand Prices Last Previous Highest Lowest Unit
Inflation Rate 1.70 1.50 44.00 -15.30 percent [+]
Inflation Rate Mom 0.60 0.10 8.90 -4.10 percent [+]
Consumer Price Index CPI 1032.00 1026.00 1032.00 16.50 Index Points [+]
Core Consumer Prices 1032.00 1026.00 1032.00 512.60 Index Points [+]
Core Inflation Rate 1.70 1.40 7.91 0.00 percent [+]
GDP Deflator 1195.00 1190.00 1195.00 589.00 Index Points [+]
Producer Prices 1151.00 1148.00 1158.00 165.78 Index Points [+]
Export Prices 1173.00 1203.00 1269.00 85.30 Index Points [+]
Import Prices 829.00 859.00 1128.00 70.43 Index Points [+]
Inflation Expectations 1.86 2.01 8.30 1.60 percent [+]
Cpi Housing Utilities 1060.00 1053.00 1060.00 536.80 Index Points [+]
CPI Transportation 1023.00 1017.00 1099.90 743.20 Index Points [+]
Food Inflation 0.90 0.50 25.20 -2.00 percent [+]


New Zealand Inflation Rate

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 2019.

Actual Previous Highest Lowest Dates Unit Frequency
1.70 1.50 44.00 -15.30 1918 - 2019 percent Quarterly




Country Last Previous
Argentina 54.40 Jul/19
Australia 1.60 Jun/19
Brazil 3.22 Jul/19
Canada 2.00 Jun/19
China 2.80 Jul/19
Euro Area 1.00 Jul/19
France 1.10 Jul/19
Germany 1.70 Jul/19
India 3.15 Jul/19
Indonesia 3.32 Jul/19
Italy 0.40 Jul/19
Japan 0.70 Jun/19
Mexico 3.78 Jul/19
Netherlands 2.50 Jul/19
Russia 4.60 Jul/19
Saudi Arabia -1.40 Jun/19
Singapore 0.60 Jun/19
South Africa 4.50 Jun/19
South Korea 0.60 Jul/19
Spain 0.50 Jul/19
Switzerland 0.30 Jul/19
Turkey 16.65 Jul/19
United Kingdom 2.10 Jul/19
United States 1.80 Jul/19


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