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20 Apr 2015
New Zealand CPI falls below expectations in Q1 2015
FXStreet (Bali) - New Zealand Consumer Price Index (YoY) came at 0.1%m below forecasts of 0.2% in Q1, with the QoQ also below expectations, coming at -0.3% vs -0.2%.
Quarterly change
In the March 2015 quarter compared with the December 2014 quarter:
The consumers price index (CPI) fell 0.3 percent to a level of 1193. Petrol prices fell 11 percent, making the largest downward contribution. International air fares (down 15 percent) and package holidays (down 6.6 percent) showed seasonal falls. Cigarette and tobacco prices rose 12 percent, after excise duty rose 11.09 percent on 1 January 2015. Prices for fruit (up 12 percent), rentals for housing (up 0.8 percent), and newly built houses excluding land (up 0.8 percent) also rose.
Annual change
From the March 2014 quarter to the March 2015 quarter:
The CPI increased 0.1 percent. Prices of tradable goods and services decreased 2.8 percent, the largest annual fall since the series began in 1999. Petrol (down 15 percent) was the main contributor.Annual non-tradable inflation (up 2.3 percent), was the lowest since the September 2012 quarter. Prices for non-tradables such as cigarettes and tobacco (up 14 percent), newly built houses excluding land (up 5.0 percent), rentals for housing (up 2.3 percent), and electricity (up 3.6 percent) all increased. The CPI measures the rate of price change of goods and services purchased by New Zealand households. Statistics NZ visits 2,800 shops around New Zealand to collect prices for the CPI and check product sizes and features.
Quarterly change
In the March 2015 quarter compared with the December 2014 quarter:
The consumers price index (CPI) fell 0.3 percent to a level of 1193. Petrol prices fell 11 percent, making the largest downward contribution. International air fares (down 15 percent) and package holidays (down 6.6 percent) showed seasonal falls. Cigarette and tobacco prices rose 12 percent, after excise duty rose 11.09 percent on 1 January 2015. Prices for fruit (up 12 percent), rentals for housing (up 0.8 percent), and newly built houses excluding land (up 0.8 percent) also rose.
Annual change
From the March 2014 quarter to the March 2015 quarter:
The CPI increased 0.1 percent. Prices of tradable goods and services decreased 2.8 percent, the largest annual fall since the series began in 1999. Petrol (down 15 percent) was the main contributor.Annual non-tradable inflation (up 2.3 percent), was the lowest since the September 2012 quarter. Prices for non-tradables such as cigarettes and tobacco (up 14 percent), newly built houses excluding land (up 5.0 percent), rentals for housing (up 2.3 percent), and electricity (up 3.6 percent) all increased. The CPI measures the rate of price change of goods and services purchased by New Zealand households. Statistics NZ visits 2,800 shops around New Zealand to collect prices for the CPI and check product sizes and features.