New Zealand Inflation Rate  1918-2017 | Data | Chart | Calendar | Forecast

Consumer prices in New Zealand jumped 1.3 percent year-on-year in the fourth quarter of 2016, compared to an upwardly revised 0.4 percent rise in the previous period and above market expectations of 1.2 percent increase. It was the highest level since the third quarter of 2014 mainly due to higher prices of newly built houses, excluding land and rentals for housing. Inflation Rate in New Zealand averaged 4.74 percent from 1918 until 2016, reaching an all time high of 44.00 percent in the third quarter of 1918 and a record low of -15.30 percent in the first quarter of 1923.

New Zealand Inflation Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-07-17 10:45 PM Q2 0.4% 0.4% 0.5% 0.3%
2016-10-17 09:45 PM Q3 0.2% 0.4% 0.1% 0.3%
2017-01-25 09:45 PM Q4 1.3% 0.4% 1.2% 1.1%
2017-04-17 10:45 PM Q1 1.3% 0.42%
2017-07-17 10:45 PM Q2 0.43%
2017-10-17 09:45 PM Q3 0.41%




New Zealand Inflation Rate Highest Since 2014


Consumer prices in New Zealand jumped 1.3 percent year-on-year in the fourth quarter of 2016, compared to an upwardly revised 0.4 percent rise in the previous period and above market expectations of 1.2 percent. It was the highest level since the third quarter of 2014 mainly due to higher prices of newly built houses, excluding land and rentals for housing.

Housing-related prices continued to be the main upward contributor, influenced by purchase of newly built houses, excluding land (up 6.5 percent, the largest increase since Q3 of 2005); with Auckland up 8.2 percent; rentals for housing (up 2.0 percent, the lowest since Q1 of 2014); with Auckland up 3.2 percent, and Canterbury down 0.8 percent; real estate services (up 12 percent); local authority rates (up 3.2 percent); electricity (up 2.3 percent) and property maintenance services (up 3.4 percent).

The annual increases for housing-related prices were partly offset by lower transport group prices, influenced by other private transport services (down 13 percent), caused by lower vehicle relicensing fees; international air transport (down 5.7 percent). In addition, fruit also declined (down 6.3 percent in the year to December 2016).

Tradables decreased 0.1 percent in the year to December 2016. Lower prices for international air fares, fruit, and package holidays made the main downward contributions. The NZ dollar remains at a historically high level against the trade weighted index.

Non-tradables increased 2.4 percent in the latest year. Prices for the purchase of new housing, excluding land, made the most significant upwards contribution, followed by cigarettes and tobacco, and housing rentals. The increases were partly offset by decreases for other private transport services.  

On a quarterly basis, consumer prices also rose 0.4 percent, from an upwardly revised 0.3 percent gain in the previous quarter. 

Statistics New Zealand | Deborah Neves | deborah.neves@tradingeconomics.com
1/25/2017 10:31:23 PM



New Zealand Prices Last Previous Highest Lowest Unit
Inflation Rate 1.30 0.40 44.00 -15.30 percent [+]
Inflation Rate Mom 0.40 0.30 8.91 -0.81 percent [+]
Consumer Price Index CPI 1214.00 1207.00 1214.00 34.30 Index Points [+]
Core Consumer Prices 1216.00 1210.00 1216.00 629.50 Index Points [+]
Core Inflation Rate 1.42 0.42 7.91 0.00 percent [+]
GDP Deflator 1127.00 1123.00 1128.00 589.00 Index Points [+]
Producer Prices 1059.00 1049.00 1077.00 165.78 Index Points [+]
Export Prices 993.00 1021.00 1269.00 85.30 Index Points [+]
Import Prices 780.00 788.00 1128.00 70.43 Index Points [+]
Cpi Transportation 1076.00 1026.00 1178.00 796.00 Index Points [+]
Food Inflation 1.40 0.60 10.81 -1.99 percent [+]



New Zealand Inflation Rate Notes

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 February of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
1.30 0.40 44.00 -15.30 1918 - 2016 percent Quarterly



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