New Zealand Inflation Rate 1918-2015 | Data | Chart | Calendar | Forecast

The inflation rate in New Zealand was recorded at 0.80 percent in the fourth quarter of 2014. Inflation Rate in New Zealand averaged 4.82 percent from 1918 until 2014, 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 reported by the Statistics New Zealand.

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New Zealand Inflation Rate


Actual Previous Highest Lowest Dates Unit Frequency
0.80 1.00 44.00 -15.30 1918 - 2014 percent Quarterly
In New Zealand, the inflation rate measures a broad rise or fall in prices that consumers pay for a standard basket of goods. This page provides - New Zealand Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - New Zealand Inflation Rate - was last refreshed on Saturday, February 28, 2015.


New Zealand Annual Inflation Rate Declines to 0.8%


The CPI increased 0.8 percent in the year to the December 2014 quarter, compared to 1 percent rise in the previous three month period. This is the smallest annual rise since the June 2013 quarter.

Housing and household utilities was the main contributor in the latest year, with newly built houses (up 5.4 percent), housing rentals (up 2.1 percent), and electricity (up 3.6 percent) all increasing in price.

Cigarette and tobacco prices increased 11.9 percent, influenced by an increase in excise duty in January 2014.

Petrol (down 4.0 percent) was the main downward contributor. Prices for audio-visual and computing equipment fell 14 percent, after adjusting for quality improvements.

Compared to the previous quarter, prices fell 0.2 percent in the three month to December 2014, following three consecutive rises of 0.3 percent.Lower prices for petrol and vegetables were partly countered by higher prices for international travel and housing-related costs.

Petrol prices (down 5.7 percent) made the largest downward contribution. Excluding petrol, the CPI showed a 0.1 percent rise this quarter. The average price of a litre of 91 octane petrol in the December 2014 quarter was $2.00, compared with $2.12 in the previous quarter. By the end of the December quarter, petrol pump prices were 7 percent below the average price for the quarter, and as at 16 January were 17 percent below the average for the quarter.

Seasonally lower prices for tomatoes, lettuce, and cucumber influenced the fall in vegetable prices (down 14 percent). This is a smaller-than-usual December quarter fall, following a mild winter. Vegetable prices are now slightly higher than a year ago.

Prices for newly built houses excluding land rose 1.7 percent overall, with Auckland up 2.8 percent and Canterbury up 1.7 percent. Housing rentals rose 0.3 percent overall, with Canterbury up 0.9 percent.

International travel prices were higher, with international air fares up 7.3 percent and package holidays up 5.3 percent. These prices usually rise in the December quarter. Domestic air fares also rose, influenced by high demand leading up to the holiday period.

Statistics New Zealand | anna@tradingeconomics.com
1/20/2015 9:55:05 PM


Recent Releases

New Zealand Inflation Rate Decreases to 1% in Q3
The CPI increased 1.0 percent year-on-year in the third quarter of 2014, after rising 1.6 percent in the previous period. It is the lowest rate in five quarters due to a fall in transport and food prices. Published on 2014-10-22

New Zealand Inflation Rate Rises to 1.6% in Q2
The CPI increased 1.6 percent in the second quarter of 2014, following a 1.5 percent rise in the previous period, mainly due to higher housing cost. Published on 2014-07-16


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-07-15 11:45 PM
Inflation Rate YoY  Q2
1.6% 1.5% 1.8% 1.81%
2014-10-22 10:45 PM
Inflation Rate YoY  Q3
1% 1.6% 1.3% 1.6%
2015-01-20 09:45 PM
Inflation Rate YoY  Q4
0.8% 1% 0.9% 0.88%
2015-04-19 11:45 PM
Inflation Rate YoY  Q1
0.8% 0.72%
2015-07-15 11:45 PM
Inflation Rate YoY  Q2
0.62%
2015-10-22 10:45 PM
Inflation Rate YoY  Q3
0.59%


New Zealand Prices Last Previous Highest Lowest Unit
Inflation Rate 0.80 1.00 44.00 -15.30 percent [+]
Inflation Rate Mom -0.20 0.30 8.91 -0.81 percent [+]
Consumer Price Index CPI 1197.00 1199.00 1199.00 34.30 Index Points [+]
Core Inflation Rate 0.84 1.09 7.91 0.68 percent [+]
Core Consumer Prices 1199.00 1201.00 1201.00 629.50 Index Points [+]
GDP Deflator 1108.00 1118.00 1118.00 591.00 Index Points [+]
Producer Prices 1046.00 1050.00 1077.00 165.78 Index Points [+]
Export Prices 1112.00 1164.00 1269.00 85.30 Index Points [+]
Import Prices 822.00 823.00 1128.00 70.43 Index Points [+]
Food Inflation 1.20 1.00 10.81 -1.99 percent [+]


Inflation Rate Reference Previous Highest Lowest Unit
Australia 1.70 Nov/14 2.30 23.90 -1.30 percent [+]
Brazil 7.14 Jan/15 6.41 6821.31 1.65 percent [+]
Canada 1.00 Jan/15 1.50 21.60 -17.80 percent [+]
China 0.80 Jan/15 1.50 28.40 -2.20 percent [+]
Euro Area -0.60 Jan/15 -0.20 5.00 -0.70 percent [+]
France -0.40 Jan/15 0.10 18.80 -0.70 percent [+]
Germany 0.10 Feb/15 -0.40 11.54 -7.62 percent [+]
India 5.11 Jan/15 5.00 11.16 4.38 percent [+]
Indonesia 6.96 Jan/15 8.36 82.40 -1.17 percent [+]
Italy -0.19 Feb/15 -0.60 25.64 -0.60 percent [+]
Japan 2.40 Jan/15 2.40 25.00 -2.52 percent [+]
Mexico 3.07 Jan/15 4.08 179.73 2.91 percent [+]
Netherlands 0.00 Jan/15 0.70 11.19 -1.30 percent [+]
Russia 15.00 Jan/15 11.40 2333.30 3.60 percent [+]
South Korea 0.80 Jan/15 0.80 32.50 0.20 percent [+]
Spain -1.10 Feb/15 -1.30 28.43 -1.37 percent [+]
Switzerland -0.50 Jan/15 -0.30 11.92 -1.37 percent [+]
Turkey 7.24 Jan/15 8.17 138.71 -4.01 percent [+]
United Kingdom 0.30 Jan/15 0.50 8.50 0.30 percent [+]
United States -0.10 Jan/15 0.80 23.70 -15.80 percent [+]