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Consumer Price Index

CPI is one of the most widely used measure of inflation, as it follows the price changes experienced by consumers when purchasing goods and services. This is usually measured by a following an index of a certain "basket of goods", that is made up of the the items needed by a household. "Core" CPI usually excludes volatile items, such as food and energy, in order to get a better sense of price changes without these prices factored in.

Main Indicator: Consumer Price Index q/q

Most Recent Release

January
19th, 2010

Actual

Forecast

Revised Form

-0.2%

0.0%

1.3%

N/A

Table of Past Data

	7/15	10/14	1/16	4/14	7/14	10/20	1/19	4/16	10/14	1/19

Actual	+1.0%	0.5%	1.2%	0.7%	1.6%	1.5%	-0.5%	0.3%	1.3%	-0.2%
Forecast	+0.8%	0.8%	1.0%	0.9%	1.4%	1.5%	-0.4%	0.3%	0.8%	0.0%
Previous	+0.5%	1.0%	0.5%	1.2%	0.7%	1.6%	1.5%	-0.5%	0.6%	1.3%
Revised From	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Past Releases

October
14th, 2009

Actual

Forecast

Revised Form

1.3%

0.8%

0.6%

N/A

For 1st Quarter
Provided by: Statistics New Zealand
Official Release: HTML PDF

CPI y/y: 1.7%, pr. 1.9% (2Q), 3.0% (1Q), 3.4% (4Q), 5.1% (3Q),
4.0% (2Q), 3.4% (1Q), 3.2% (4Q '07)

From the Release: " The consumers price index (CPI) increased 1.7 percent from the September 2008 quarter to the September 2009 quarter, Statistics New Zealand said today. "This annual increase is the lowest in five-and-a-half years," said Prices Manager Chris Pike.

"A big contributor to the lower annual increase came from petrol prices and airfares falling during the year, which partly offset higher prices for food, electricity, and local authority rates," Mr Pike said. The annual increase in the CPI included a rise of 1.3 percent for the September 2009 quarter."

April
16th, 2009

Actual

Forecast

Revised Form

0.3%

-0.5%

N/A

For 1st Quarter
Provided by: Statistics New Zealand

CPI y/y: 3.0%, forecast 3.0%, pr. 3.4% (4Q), 5.1% (3Q), 4.0% (2Q),
3.4% (1Q), 3.2% (4Q '07)

January
19th, 2009

Actual

Forecast

Revised Form

-0.5%

-0.4%

1.5%

N/A

For 4th Quarter
Provided by: Statistics New Zealand

CPI y/y: 3.4%, forecast 3.5%, pr. 5.1% (3Q), 4.0% (2Q), 3.4% (1Q),
3.2% (4Q '07)

October
20th, 2008

Actual

Forecast

Revised Form

1.5%

1.6%

N/A

For 3rd Quarter
Provided by: Statistics New Zealand

CPI y/y: 5.1% forecast 5.1%, pr. 4.0% (2Q), 3.4% (1Q), 3.2% (4Q '07)

July
14th, 2008

Actual

Forecast

Revised Form

1.6%

1.4%

0.7%

N/A

For 2nd Quarter
Provided by: Statistics New Zealand

CPI y/y: 4.0% forecast 3.8%, pr. 3.4% (1Q '08), 3.2% (4Q '07)

Inflation in the June quarter accelerated to the fastest pace since the June quarter in 1990. Higher petro prices led to higher transport prices, which pulled the quarterly inflation rate above expectations, and more than double the March quarter reading of 0.7%. Inflation is accelerating, while the slowdown is spreading and deepening. Like its neighboring central bank the RBA, the RBNZ may be willing to compromise some initial slowdown if that can lead to a drawdown on inflationary pressure. So far, the data has been diverging from that scenario.

April
14th, 2008

Actual

Forecast

Revised Form

0.7%

0.9%

1.2%

N/A

For 1st Quarter 2008.
Provided by: Statistics New Zealand

CPI y/y: 3.4%, forecast 3.5%, pr. 3.2% (4th Q)

The yearly inflation is outside of RBNZ's target range of 1%-3%. However price increases have been significantly pulled up by a 20.5% y/y increase in gasoline prices. Also, food prices are up 1.8% for the quarter. Although the economy seems to be losing steam, inflationary pressure will keep the RBNZ from rate cuts anytime soon.

January
16th, 2008

Actual

Forecast

Revised Form

1.2%

1.0%

0.5%

N/A

For 4th Quarter 2007.
Press Release by Statistics New Zealand

CPI y/y: 3.2% (4th Q), forecast 3.0%, pr. 1.8%.

The cost of living to consumer increased 1.2% in the 4th quarter for New Zealand. The price of oil (+5.4%) was a major contributer, adding 0.2% to the CPI. International air travel (+11.9), food (+1.5%), and the price of housing (+0.9%) were other factors pushing up prices.

"For the year to the December 2007 quarter, the CPI increased 3.2 percent, following a rise of 1.8 percent for the year to the September 2007 quarter. The groups that made the most significant upward contributions for the year to the December 2007 quarter were housing and household utilities (up 5.2 percent), transport (up 5.9 percent) and food (up 4.4 percent)."

October
14th, 2007

Actual

Forecast

Revised Form

0.5%

0.8%

1.0%

N/A

For September quarter (Q3) 2007
CPI for year to Sept 07 quarter: 1.8%

Price increases in housing and household utilities(+1.8%) and food(+1.2%), were offset by price drops in education(-5.2%) and the health products(-3.1%). According to Statistics New Zealand, changes in government funding and subsidies contributed to falling prices.

July
15th, 2007

Actual

Forecast

Revised Form

+1.0%

+0.8%

+0.5%

N/A

Driven up by petrol prices (+8.0%), transport prices were up 2.7% in the June 2007 quarter. According to Statistics New Zealand, excluding petrol, overall CPI would have increased only 0.6%. The year to June 2007 CPI increased 2.0%. The higher than expected inflation report supports a rate increase by the RBNZ next Thursday.