New Zealand inflation data

CPI for Q3

+0.3 % for the q/q

  • expected is +0.5%
  • prior was +0.3%

+1.0 % for the y/y

  • expected is +1.2%
  • prior was +1.6%
  • Tradeable prices +0.1% q/q
  • Non-tradeables +0.5% q/q

NZD/USD lower immediately, down under 0.79

From Statistics NZ:

  • “Higher housing-related prices were responsible for about three-quarters of the rise in the CPI this quarter. The rest of the basket was relatively subdued,” prices manager Chris Pike said.

A look at NZ inflation … not a concern for the RBNZ at present:

NZ inflation graph 23 October 2014