New Zealand Annual Inflation Rate Rises to 1.7% in Q2

The annual inflation rate in New Zealand climbed to 1.7 percent in the second quarter of 2019 from 1.5 percent in the previous period, matching market expectations. Prices rose further mainly due to cost of petrol.

Year-on-year, prices rebounded for transport (0.3 percent compared to -0.1 percent in Q1), of which private transport supplies and services (3 percent) namely petrol (3.3 percent); and household contents and services (1.7 percent compared to -0.8 percent). Additionally, cost advanced further for recreation & culture (1.8 percent compared to 0.8 percent); miscellaneous goods & services (2.6 percent compared to 2.5 percent); and health (1.7 percent compared to 0.9 percent). Also, prices declined less for clothing & footwear (-0.3 percent compared to -0.6 percent); and communication (-3.0 percent compared to -3.7 percent).

Meanwhile, prices eased for food (1.1 percent compared to 1.3 percent); housing & utilities (2.8 percent compared to 3.0 percent); alcoholic beverages & tobacco (3.5 percent compared to 4.2 percent); and education (1.6 percent compared to 1.7 percent). 

On a quarterly basis, consumer prices jumped 0.6 percent, after rising 0.1 percent in the previous quarter and also matching forecasts.

New Zealand Annual Inflation Rate Rises to 1.7% in Q2

Statistics New Zealand | Mario |
7/16/2019 10:02:29 AM