New Zealand Q4 2018 CPI rises +1.9% y/y vs. 1.8% expected

Statistic New Zealand (Stats NZ) released the inflation report for the fourth quarter of 2018, citing that New Zealand’s consumer prices ticked higher by 0.1% q/q versus 0.0% expected and 0.9%.

On an annualized basis, the CPI figure arrived at 1.9% in Q4 2018 versus 1.8% expected and 1.9% last.

Main Points (via Stats NZ)

“Housing and household utilities increased 3.1 percent, with rentals for housing up 2.4 percent, construction up 3.6 percent, and local authority rates up 5.1 percent.

Transport increased 3.5 percent, with petrol up 11 percent.

Alcoholic beverages and tobacco increased 3.8 percent, with cigarettes and tobacco up 9.2 percent.

Communication prices decreased 3.7 percent, with telecommunication equipment down 21 percent.”