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Consumer Price Index (QoQ)

With the Reserve Bank of New Zealand's (RBNZ) inflation target being around the midpoint of 2%, Statistics New Zealand’s quarterly Consumer Price Index (CPI) publication is of high significance. The trend in consumer prices tends to influence RBNZ’s interest rates decision, which in turn, heavily impacts the NZD valuation. Acceleration in inflation could lead to faster tightening of the rates by the RBNZ and vice-versa. Actual figures beating forecasts render NZD bullish.

Most recent - Tuesday 23 January 2024 21:45

Previous
1.8%
Forecast
0.5%
Actual
0.5%

Trading range

Forecast history

The most recent announced value for Consumer Price Index (QoQ) was 0.5% against a forecast of 0.5%.

Past events

Date
Forecast
Actual
Tuesday 23 January 2024 21:45
0.5%
0.5%
Monday 16 October 2023 21:45
2%
1.8%
Tuesday 18 July 2023 22:45
1%
1.1%
Wednesday 19 April 2023 22:45
1.7%
1.2%
Tuesday 24 January 2023 21:45
1.3%
1.4%
Monday 17 October 2022 21:45
1.6%
2.2%
Sunday 17 July 2022 22:45
1.5%
1.7%
Wednesday 20 April 2022 22:45
2%
1.8%
Wednesday 26 January 2022 21:45
1.3%
1.4%
Sunday 17 October 2021 21:45
1.4%
2.2%
Thursday 15 July 2021 22:45
0.8%
1.3%
Tuesday 20 April 2021 22:45
0.7%
0.8%

Economic context

Recent economic data has been moderately bearish for NZD. Other recent announcements which may affect the market's interpretation of the next Consumer Price Index (QoQ) result:

PreviousLatest
Building Permits s.a. (MoM)Bearish change3.6%-8.8%
RBNZ Interest Rate Decision(no change)5.5%5.5%
Retail Sales (QoQ)Bearish change-0.8%-1.9%
Retail Sales ex Autos (QoQ)Bearish change0.4%-1.7%
Trade Balance NZD (YoY)Bullish change$-13.62B$-12.5B
ExportsBearish change$5.85B$4.93B
ImportsBearish change$6.22B$5.91B
Producer Price Index - Output (QoQ)Bearish change0.8%0.7%
Business NZ PSIBullish change48.852.1

About Consumer Price Index (QoQ)

Country:New Zealand
Currency:NZD
Source:Stats NZ
Category:Inflation
Frequency:Quarterly

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