New Zealand NZD

New Zealand Inflation Rate QoQ

Info

History

Chart

Impact:

Medium

Source: Statistics New Zealand

Latest Release:

Date:

Big Surprise:

0.2%

NZD

Actual:

0.9%

Forecast: 0.7%

Previous/Revision:

0.5%

Period: Q1

Next Release:

Date:

Forecast: 0.3%

Period: Q2

What Does It Measure?

The New Zealand Inflation Rate measures the percentage change in the price level of a basket of consumer goods and services over a specific period, reflecting the cost of living and purchasing power in the economy. It assesses key components such as housing, transportation, food, and healthcare, and is a critical indicator of economic stability, with a focus on inflationary pressures that can influence monetary policy.

Frequency

The New Zealand Inflation Rate is released quarterly and typically consists of final figures, with the results published in the months following the end of each quarter, often around the last week of January, April, July, and October.

Why Do Traders Care?

Traders closely monitor the New Zealand Inflation Rate because it significantly influences interest rate decisions by the Reserve Bank of New Zealand, impacting currency valuations and overall market sentiment. Higher-than-expected inflation readings can strengthen the New Zealand dollar (NZD) and increase yields on bonds, while weaker readings may have the opposite effect.

What Is It Derived From?

The Inflation Rate is derived from the Consumer Price Index (CPI), which is calculated based on the prices collected from a sample of goods and services across various sectors. This sampling includes household expenditure surveys to determine what consumers are purchasing, and it employs specific methodologies to ensure accurate representation through weighting different components according to their importance in an average household's budget.

Description

The New Zealand Inflation Rate is typically reported as a Year-over-Year (YoY) percentage change, comparing the most recent quarter's inflation to the same quarter of the previous year. The YoY measure is preferred because it smooths out seasonal fluctuations and provides clearer insights into long-term inflation trends essential for economic and investment planning.

Additional Notes

The Inflation Rate is a key economic indicator and a coincident measure, often reflecting current economic conditions and influencing policy decisions. It is also compared with other inflation-related metrics, such as producer price indices and wage growth, to assess broader economic health and expectations.

Bullish or Bearish for Currency and Stocks

Higher than expected: Bullish for NZD, Bearish for Stocks. Lower than expected: Bearish for NZD, Bullish for Stocks. Hawkish tone: Signaling higher interest rates or inflation concerns, is usually good for the NZD but bad for Stocks due to higher borrowing costs.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Actual	Forecast	Previous	Surprise
Apr 16, 2025	0.9%	0.7%	0.5%	0.2%
Jan 21, 2025	0.5%	0.5%	0.6%
Oct 15, 2024	0.6%	0.7%	0.4%	-0.1%
Jul 16, 2024	0.4%	0.6%	0.6%	-0.2%
Apr 16, 2024	0.6%	0.6%	0.5%
Jan 23, 2024	0.5%	0.5%	1.8%
Oct 16, 2023	1.8%	2%	1.1%	-0.2%
Jul 18, 2023	1.1%	1%	1.2%	0.1%
Apr 19, 2023	1.2%	1.7%	1.4%	-0.5%
Jan 24, 2023	1.4%	1.3%	2.2%	0.1%
Oct 17, 2022	2.2%	1.6%	1.7%	0.6%
Jul 17, 2022	1.7%	1.5%	1.8%	0.2%
Apr 20, 2022	1.8%	2%	1.4%	-0.2%
Jan 26, 2022	1.4%	1.3%	2.2%	0.1%
Oct 17, 2021	2.2%	1.4%	1.3%	0.8%
Jul 15, 2021	1.3%	0.8%	0.8%	0.5%
Apr 20, 2021	0.8%	0.7%	0.5%	0.1%
Jan 21, 2021	0.5%	0%	0.7%	0.5%
Oct 22, 2020	0.7%	0.9%	-0.5%	-0.2%
Jul 15, 2020	-0.5%	-0.5%	0.8%
Apr 19, 2020	0.8%	0.4%	0.5%	0.4%
Jan 23, 2020	0.5%	0.4%	0.7%	0.1%
Oct 15, 2019	0.7%	0.6%	0.6%	0.1%
Jul 15, 2019	0.6%	0.6%	0.1%
Apr 16, 2019	0.1%	0.3%	0.1%	-0.2%
Jan 22, 2019	0.1%	0%	0.9%	0.1%
Oct 15, 2018	0.9%	0.7%	0.4%	0.2%
Jul 16, 2018	0.4%	0.5%	0.5%	-0.1%
Apr 18, 2018	0.5%	0.5%	0.1%
Jan 24, 2018	0.1%	0.4%	0.5%	-0.3%
Oct 16, 2017	0.5%	0.4%	0%	0.1%
Jul 17, 2017	0%	0.2%	1%	-0.2%
Apr 19, 2017	1%	0.8%	0.4%	0.2%
Jan 25, 2017	0.4%	0.3%	0.3%	0.1%
Oct 17, 2016	0.2%	0%	0.4%	0.2%
Jul 17, 2016	0.4%	0.5%	0.2%	-0.1%
Apr 17, 2016	0.2%	0.1%	-0.5%	0.1%
Jan 19, 2016	-0.5%	-0.2%	0.3%	-0.3%
Oct 15, 2015	0.3%	0.2%	0.4%	0.1%
Jul 15, 2015	0.4%	0.6%	-0.3%	-0.2%