• New Zealand CPI rose 0.9% in Q3 vs +0.7% expected

Market news

16 October 2018

New Zealand CPI rose 0.9% in Q3 vs +0.7% expected

In the September 2018 quarter compared with the June 2018 quarter, the CPI rose 0.9 percent (up 0.8 percent with seasonal adjustment).

Transport rose 2.4 percent, influenced by higher prices for petrol (up 5.5 percent).

Housing and household utilities rose 1.1 percent, influenced by higher prices for local authority rates (up 5.1 percent), construction (up 1.3 percent), and rentals for housing (up 0.4 percent).

Food prices rose 0.6 percent, influenced by higher prices for vegetables (up 11 percent).

From the September 2017 quarter to the September 2018 quarter, the CPI inflation rate was 1.9 percent.

Housing and household utilities increased 3.1 percent, with construction up 4.1 percent, rentals for housing up 2.3 percent, and local authority rates up 5.1 percent.

Transport increased 5.6 percent, with petrol up 19 percent.

Alcoholic beverages and tobacco increased 4.7 percent, with cigarettes and tobacco up 11 percent, mainly due to an increase in excise duties for tobacco and tobacco products.

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