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 15 October 2024 21:45

Previous
0.4%
Forecast
0.7%
Actual
0.6%

Lower numbers than forecast tend to be bullish for xxx/NZD pairs and bearish for NZD/xxx pairs.

Next event - Tuesday 21 January 2025 21:45

Previous
0.6%
Forecast
-
Actual
-

The typical/expected impact on NZD pairs is high.

There is no forecast value for Consumer Price Index (QoQ) yet - check back for updates.

Trading range

Forecast history

The most recent announced value for Consumer Price Index (QoQ) was 0.6% against a forecast of 0.7%.

Past events

Date
Forecast
Actual
Tuesday 15 October 2024 21:45
0.7%
0.6%
Tuesday 16 July 2024 22:45
0.6%
0.4%
Tuesday 16 April 2024 22:45
0.6%
0.6%
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%

Economic context

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

PreviousLatest
ExportsBullish change$5.61B$6.48B
ImportsBearish change$7.27B$6.92B
Trade Balance NZD (YoY)Bullish change$-9.07B$-8.25B
Gross Domestic Product (QoQ)Bullish change-1.1%-1%
Gross Domestic Product (YoY)Bearish change-0.5%-1.5%
Westpac Consumer SurveyBullish change90.897.5
Business NZ PSIBullish change46.249.5
Business NZ PMIBearish change45.845.5

About Consumer Price Index (QoQ)

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

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