New Zealand Inflation Holds at 2021 Low
2025-01-21 22:05
By
Felipe Alarcon
1 min. read
The annual inflation rate in New Zealand eased to 2.2% in the December quarter of 2024, matching the rate from the prior quarter.
This marks the lowest inflation rate since March 2021, although it exceeded market expectations of 2.1%.
Costs continued to rise at a slower pace for communication (2.8% vs 3.8% in Q3); clothing (-0.8% vs 0.9%); miscellaneous goods and services (5.7% vs 6.2%); and alcoholic beverages and tobacco (5.1% vs 6.3%).
Meanwhile, prices fell for transport (-3.6% vs -5.3%) and education (-4.0% vs.
-4.0%).
On the other hand, costs rose at a faster pace for food (1.3% vs 0.7%); recreation and culture (3.3% vs 2.3%); and housing and household utilities (4.3% vs 4.6%).
On a quarterly basis, prices rose by 0.5% in the three months to December, following a 0.6% increase in the previous period.