New Zealand Inflation Rises Just 0.1% In Q1

Trading 17 avr 2019 Donner votre avis

Inflation in New Zealand was up 0.1 percent on quarter in the first quarter of 2019, Statistics New Zealand said on Wednesday.

That was unchanged from the previous three months, although it was shy of expectations for a gain of 0.3 percent.

Alcoholic beverages and tobacco rose 4.7 percent, influenced by higher prices for cigarettes and tobacco (up 9.0 percent).

Food prices rose 1.2 percent, influenced by higher prices for fruit (up 8.9 percent).

Transport fell 3.7 percent, influenced by falls in petrol prices (down 7.0 percent) and international airfares (down 12 percent).

Alcohol and tobacco prices rose 4.7 percent in the March 2019 quarter, the largest upward contributor to the quarterly CPI. The rise was influenced by tobacco and cigarette prices (up 9.0 percent). The annual indexation increase to excise duty on cigarettes and tobacco took place on 1 January 2019.

Food prices rose 1.2 percent in the quarter, influenced by higher prices for fruit (up 8.9 percent) and vegetables (up 3.2 percent).

These rises were offset by a fall in transport prices (down 3.7 percent), led by petrol (down 7.0 percent) and international airfares (down 12 percent). The fall in transport prices was offset by higher prices for used cars (up 1.9 percent).

On a yearly basis, inflation was up 1.5 percent - beneath forecasts for 1.7 percent and down from 1.9 percent in the three months prior.

Housing and household utilities increased 3.0 percent on year, with rentals for housing up 2.4 percent, construction up 3.9 percent, and local authority rates up 5.1 percent.

Alcoholic beverages and tobacco increased 4.2 percent, with cigarettes and tobacco up 7.7 percent.

Communication prices decreased 3.7 percent, with telecommunication equipment down 23 percent.

Housing and household utilities was the main contributor to the 1.5 percent CPI increase in the March 2019 year. The rise in this group was influenced by higher prices for rentals, purchase of housing, and local authority rates.

Actual rentals for housing increased 2.4 percent nationwide in the year to March 2019. Regionally, rental prices rose the most in Wellington (up 3.3 percent). Rents increased 2.2 percent in Auckland, 2.9 percent in the rest of the North Island, 0.6 percent in Canterbury, and 2.9 percent in the rest of the South Island.

Construction increased 3.9 percent in the year to March 2019 across the country. Prices of newly built houses increased 2.7 percent in Auckland, 2.7 percent in Wellington, 6.0 percent in the rest of the North Island, 2.6 percent in Canterbury, and 5.9 percent in the rest of the South Island.


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