The annual inflation rate in New Zealand edged down to 1.4 percent in the third quarter of 2020 from 1.5 percent in the previous period and below market expectations of a 1.7 percent increase. It was the lowest inflation rate since the first quarter of 2018, amid the coronavirus pandemic. Prices slowed for housing & household utilities (2.6 percent vs 3.2 percent in Q2); recreation & culture (0.8 percent vs 1.2 percent); and miscellaneous goods & services (2.3 percent vs 2.6 percent). Also, cost of communication dropped at a faster pace (-2.9 percent vs -1.4 percent). On the other hand, inflation was steady for food (at 3.7 percent); and liquor & tobacco (at 5.1 percent). In addition, prices advanced further for education (0.9 percent vs 0.8 percent) and health (1.9 percent vs 1.6 percent), while cost of transport fell at a softer pace (-3.9 percent vs -4.2 percent). On a quarterly basis, consumer prices went up 0.7 percent, rebounding from a 0.5 percent drop in the previous period. source: Statistics New Zealand
Inflation Rate in New Zealand averaged 4.62 percent from 1918 until 2020, reaching an all time high of 44 percent in the third quarter of 1918 and a record low of -15.30 percent in the first quarter of 1923. This page provides - New Zealand Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2021.
Inflation Rate in New Zealand is expected to be 1.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in New Zealand to stand at 0.90 in 12 months time. In the long-term, the New Zealand Inflation Rate is projected to trend around 0.90 percent in 2021 and 1.20 percent in 2022, according to our econometric models.