The annual inflation rate in New Zealand decreased to 1.5 percent in the third quarter of 2019 from 1.7 percent in the previous period but above market expectations of a 1.4 percent gain. The slowdown was mainly due to a fall in cost of transport. On a quarterly basis, consumer prices went up 0.7 percent, after rising 0.6 percent in the prior period, and higher than market forecasts of 0.6 percent. 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
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 1.5% 1.7% 1.4% 1.5%
2020-01-24 09:45 PM Inflation Rate YoY Q4 1.5%
2020-04-20 10:45 PM Inflation Rate YoY Q1



New Zealand Annual Inflation Rate Slows to 1.5% in Q3

The annual inflation rate in New Zealand decreased to 1.5 percent in the third quarter of 2019 from 1.7 percent in the previous period but above market expectations of a 1.4 percent gain. The slowdown was mainly due to a fall in cost of transport.

Year-on-year, prices slowed for household contents and services (0.9 percent vs 1.7 percent in Q2); recreation and culture (1.6 percent vs 1.8 percent); health (1.2 percent vs 1.7 percent); and miscellaneous goods and services (2.3 percent vs 2.6 percent). Also, cost of transport fell 1.5 percent, after rising 0.3 percent in the second quarter of the year; and prices of clothing and footwear declined further (-0.8 percent vs -0.3 percent).

On the other hand, cost advanced at a faster pace for food (1.8 percent vs 1.1 percent), driven by meat, poultry, and fish (+6.4 percent); housing and household utilities (3.0 percent from 2.8 percent), boosted by rents (+2.9 percent), property rates and related services (+ 5 percent), and home ownership (+2.8 percent); alcoholic beverages and tobacco (3.9 percent vs 3.5 percent), led by cigarettes and tobacco (+7.7 percent); and education (2.3 percent vs 1.6 percent). Additionally, prices of communication fell dropped less (-2.4 percent vs -3 percent). 

On a quarterly basis, consumer prices rose 0.7 percent, after a 0.6 percent gain in the previous quarter and higher than forecasts of 0.6 percent.


Statistics New Zealand | Mario | mario@tradingeconomics.com
10/16/2019 9:44:39 AM



New Zealand Prices Last Previous Highest Lowest Unit
Inflation Rate 1.50 1.70 44.00 -15.30 percent [+]
Inflation Rate Mom 0.70 0.60 8.90 -4.10 percent [+]
Consumer Price Index CPI 1039.00 1032.00 1039.00 16.50 Index Points [+]
Core Consumer Prices 1039.00 1032.00 1039.00 512.60 Index Points [+]
Core Inflation Rate 1.50 1.70 7.91 0.00 percent [+]
GDP Deflator 1211.00 1196.00 1211.00 589.00 Index Points [+]
Producer Prices 1151.00 1148.00 1158.00 165.78 Index Points [+]
Export Prices 1212.00 1172.00 1269.00 85.30 Index Points [+]
Import Prices 843.00 829.00 1128.00 70.43 Index Points [+]
Inflation Expectations 1.86 2.01 8.30 1.60 percent [+]
Cpi Housing Utilities 1073.00 1060.00 1073.00 536.80 Index Points [+]
CPI Transportation 1028.00 1023.00 1099.90 743.20 Index Points [+]
Food Inflation 2.20 2.10 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 October of 2019.

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




Country Last Previous
Argentina 53.50 Sep/19
Australia 1.60 Jun/19
Brazil 2.89 Sep/19
Canada 1.90 Sep/19
China 3.00 Sep/19
Euro Area 0.80 Sep/19
France 0.90 Sep/19
Germany 1.20 Sep/19
India 3.99 Sep/19
Indonesia 3.39 Sep/19
Italy 0.30 Sep/19
Japan 0.20 Sep/19
Mexico 3.00 Sep/19
Netherlands 2.60 Sep/19
Russia 4.00 Sep/19
Saudi Arabia -1.10 Aug/19
Singapore 0.50 Aug/19
South Africa 4.30 Aug/19
South Korea -0.40 Sep/19
Spain 0.10 Sep/19
Switzerland 0.10 Sep/19
Turkey 9.26 Sep/19
United Kingdom 1.70 Sep/19
United States 1.70 Sep/19


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