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HiFX Data Update - NZ Q4 2017 CPI Release
*** NZ Q3 CPI Release ***
The NZ
Consumer Price Index (CPI) for Q4 has just been
released.
The CPI came in notably lower than expected.
NZ CPI Q4/Annual:
Headline Q4 CPI +0.1% / +1.6% Consensus 0.4% / +1.9%
Non-tradables CPI
+0.5% / +2.5% versus previous quarter
Tradables CPI
-0.3% / +0.5% versus previous quarter
The non-tradables group is a barometer of domestic inflation.
There were no revisions to prior period numbers.
Fruit and Vegetable prices fell by 11% during Q4 – this was a significant contributor to the low CPI rate.
Today’s CPI number will leave the RBNZ firmly on ‘rate hold’ for the foreseeable future.
The NZD is plunged lower in immediate response.
Current indicative levels are:
NZDUSD 0.7335 /
0.7360
NZDAUD 0.9090 /
0.9115
NZDEUR 0.5910 /
0.5935
NZDGBP 0.5150 /
0.5175
NZDJPY 80.10 /
80.35
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