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New Zealand CPI Climbs 0.7% In Q3

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New Zealand CPI Climbs 0.7% In Q3

Consumer prices in New Zealand were up 0.7 percent on quarter in the third quarter of 2019, Statistics New Zealand said on Wednesday – surpassing expectations for an increase of 0.6 percent, which would have been unchanged from the previous three months.

Housing and household utilities rose 1.2 percent on quarter, influenced by higher prices for property rates and related services (up 4.9 percent).

Food prices rose 1.3 percent, influenced by higher prices for meat, poultry, and fish (up 3.4 percent).

On a yearly basis, consumer prices advanced 1.5 percent – again exceeding expectations for 1.4 percent and down from 1.7 percent in the three months prior.

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