Broker of the Week Oanda - Read Full Review

Free Top Brokers Comparison Service

HELP ME CHOOSE START QUIZ

New Zealand Inflation Climbs 1.4% On Year In Q4

[ad_1]

Consumer prices in New Zealand jumped 1.4 percent on year in the fourth quarter of 2020, Statistics New Zealand said on Friday – unchanged from the previous three months and exceeding expectations for an increase of 1.0 percent.

Individually, housing and household utilities increased 2.6 percent on year, with rentals for housing up 2.9 percent. Food prices increased 2.5 percent, with fruit and vegetables up 8.6 percent.

Alcoholic beverages and tobacco increased 6.0 percent with cigarettes and tobacco up 11 percent. Transport prices decreased 3.7 percent with private transport supplies and services down 8.1 percent.

On a seasonally adjusted quarterly basis, inflation rose 0.6 percent (0.5 percent unadjusted) – beating expectations for a flat reading following the 0.7 percent gain in the previous three months.

Individually, transport rose 2.3 percent on quarter, influenced by higher prices for purchase of vehicles (up 3.0 percent) and passenger transport services (up 7.9 percent). Recreation and culture rose 2.6 percent, influenced by higher prices for accommodation services (up 11 percent).

Housing and household utilities rose 0.5 percent, influenced by higher prices for purchase of housing (up 1.3 percent). Food fell 1.7 percent, influenced by lower prices for fruit and vegetables (down 12 percent).

The average price for 1 liter of 91 octane petrol was NZ$1.87 in Q4, up from $1.86 in the September 2020 quarter, and down from NZ$2.14 a year earlier.

The average price for 1 pack of 25 cigarettes was NZ$42.03 in Q4, up from NZ$41.74 in the three months prior and up from NZ$37.51 from a year earlier.

Purchase of housing was up 1.3 percent in the December quarter, with anecdotal reports of rising labor costs as well as rising prices for some materials and components. Regionally, prices rose 0.5 percent in Auckland, 0.6 percent in Wellington, and 1.3 percent in Canterbury.

For the year ended December 2020: CPI excluding food increased 1.1 percent; CPI excluding housing and household utilities increased 1.1 percent; and CPI excluding alcoholic beverages and tobacco increased 1.1 percent.

For comments and feedback contact: editorial@rttnews.com

Economic News

What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.



[ad_2]

Source link

We will be happy to hear your thoughts

      Leave a reply

      Trading foreign exchange on margin carries a HIGH LEVEL OF RISK, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose.

      Advertiser Disclosure: Brokerspilot.com helps investors across the globe by spending over hours each month testing and researching online brokers.

      How do we make money? Our partners compensate us through paid advertising.

      While partners may pay to provide offers or be featured, e.g. exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site.

      Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data.

      Disclaimer: It is our organization’s primary mission to provide reviews, commentary, and analysis that are unbiased and objective.

      While Brokerspilot.com has some data verified by industry participants, it can vary from time to time.

      Operating as an online business, this site may be compensated through third-party advertisers.

      Our receipt of such compensation shall not be construed as an endorsement or recommendation by Brokerspilot.com, nor shall it bias our reviews, analysis, and opinions.

      en_USEnglish
      Best Forex Brokers Reviews
      Logo
      Reset Password
      Compare items
      • Total (0)
      Compare
      0