CPI (QoQ) (New Zealand)
Event Date: Tuesday, July 18, 2023
Event Time: 22:45 CET
Updated Monday, July 17, 2023
Consumer price index CPI inflation has picked up nicely in the last year in New Zealand. It increased by 0.5% in Q1 last year, but growth slowed by one point to 0.4% in Q2. However, inflation jumped higher to 0.9% in Q3, as October's report showed, beating expectations of 0.7%, which were already pretty high. Although, in Q4 inflation slowed down considerably, only growing by 0.1%. In Q1 of this year, inflation was expected to improve and increase by 0.3%, but it remained unchanged at 0.1% again. In Q2, inflation picked up by 0.6% as expected and it increased further by 0.7% in Q3. In Q4 of 2019, CPI cooled off to 0.5% but surged to 0.8% in Q1 of this year. The outbreak of coronavirus had a negative effect on inflation in New Zealand, sending it 0.5% down, but in Q3 it rebounded to 0.7%. In Q4 though, the CPI came at 0.5% but the Q1 of this year is expected to bounce back by 0.8% while Q2 was expected at 0.7%, but jumped by 1.3%. In Q4 CPI increased to 1.4% and for Q1 of this year, CPI came at 1.8% against 2.0% expected. Q4 of last year CPI came at 1.4% while Q1 of 2023 is expected at 1.5%. Please follow us for live coverage of this event by experienced market analysts.
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About CPI (QoQ) (New Zealand)
A key measurement of inflation, the Consumer Price Index (CPI) influences public sentiment and monetary policy of the Reserve Bank of New Zealand (RBNZ) toward the Kiwi. It measures the pricing changes of a fixed basket of goods and services over time.Derived by Statistics New Zealand, the CPI (QoQ) is released four times per year. Strong CPI values are typically viewed as bullish for the NZD, while lagging values are negative. In instances where the CPI is strong, the RBNZ is more likely to tighten monetary policy to control inflationary concerns facing the NZD.