New Zealand CPI measures how fast consumer prices are rising year-on-year, the key inflation gauge the Reserve Bank of New Zealand watches when setting interest rates.
Actual
6.7%
Forecast
7%
Previous
7.2%
New Zealand Inflation Rate (CPI) for Q1 came in at 6.7% versus 7% expected (previous 7.2%), below forecast, which was negative for the NZD.
What it meant for the NZD
The actual landed below the 7% forecast (0.3 below expectations). A reading above forecast is generally bullish for the NZD, and below forecast bearish. On this release the read was negative for the NZD.
New to this release? See what New Zealand Inflation Rate (CPI) measures, the next release and its full history.