20 Jan 2014
New Zealand CPI reinforces RBNZ rate hike in Q1
FXstreet.com (Bali) - New Zealand CPI figures (QoQ) came at +0.1% vs -0.1% expected and +0.9% last, while yearly reading stood at +1.6% vs +1.5% expected and +1.4% last. The figures continue to put greater odds of a RBNZ rate hike in the first quarter of 2014.
Quarterly change
In the December 2013 quarter, compared with the September 2013 quarter: The consumers price index (CPI) rose 0.1 percent. Seasonally higher international air fares (up 12 percent) was the main contributor, reflecting higher prices on routes to Asia and Europe. Package holidays (up 7.3 percent) also had a seasonal price rise. Housing and household utilities rose 0.5 percent, reflecting higher prices for property maintenance, purchase of newly built houses, and rentals for housing. Seasonally lower prices for vegetables (down 20 percent) and cheaper petrol (down 3.5 percent) were the main downward contributors.
Annual change
From the December 2012 quarter to the December 2013 quarter: The CPI increased 1.6 percent. Nearly half of the increase came from housing and household utilities (up 3.2 percent). The CPI measures the rate of price change of goods and services purchased by New Zealand households. Statistics NZ visits 3,000 shops around New Zealand to collect prices for the CPI and check product sizes and features.
Quarterly change
In the December 2013 quarter, compared with the September 2013 quarter: The consumers price index (CPI) rose 0.1 percent. Seasonally higher international air fares (up 12 percent) was the main contributor, reflecting higher prices on routes to Asia and Europe. Package holidays (up 7.3 percent) also had a seasonal price rise. Housing and household utilities rose 0.5 percent, reflecting higher prices for property maintenance, purchase of newly built houses, and rentals for housing. Seasonally lower prices for vegetables (down 20 percent) and cheaper petrol (down 3.5 percent) were the main downward contributors.
Annual change
From the December 2012 quarter to the December 2013 quarter: The CPI increased 1.6 percent. Nearly half of the increase came from housing and household utilities (up 3.2 percent). The CPI measures the rate of price change of goods and services purchased by New Zealand households. Statistics NZ visits 3,000 shops around New Zealand to collect prices for the CPI and check product sizes and features.