Forex Fundamentals
New Zealand Inflation Rate (CPI)

New Zealand Inflation Rate (CPI) 18 July 2023

New Zealand Inflation Rate (CPI) 18 July 2023: 6% for Q2 2023, above the 5.9% forecast and down from 6.7% in Q1 2023. It is the lowest reading since Q4 2021. 9 of the last 12 releases came in above the forecast. Printed 6%, above the 1–3% target band. It was released on Tue 18 Jul 2023 at 22:45 UTC.

These figures were verified on 4 Oct 2026 from the source: Statistics New Zealand. This page reports the release as published: the figures, the consensus forecast and what a print like it usually does to the currency.

Actual
6%
Q2 2023
Forecast
5.9%
The market consensus
Previous
6.7%
As the source gives it

What a print like this usually does

Above the forecast: An upside surprise usually strengthens the NZD, potentially sharply, as traders expect the RBNZ to keep rates restrictive for longer.

New Zealand Inflation Rate (CPI) 18 July 2023: 6% for Q2 2023 against a 5.9% forecast, with the last 12 releases
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Cite this release

If you cite this release, please link to this page:

New Zealand Inflation Rate (CPI) 18 July 2023: 6% vs 5.9% forecast (Statistics New Zealand). Forex Fundamentals, https://forexfundamentals.com/economic-calendar/nz-cpi/2023-07-18

The last 12 releases · times in UTC
ReleasedForActualForecastPrevious
18 Jul 2023Q26%5.9%6.7%
19 Apr 2023Q16.7%7.1%7.2%
24 Jan 2023Q47.2%7.1%7.2%
17 Oct 2022Q37.2%6.6%7.3%
17 Jul 2022Q27.3%7.1%6.9%
20 Apr 2022Q16.9%7.1%5.9%
26 Jan 2022Q45.9%5.7%4.9%
17 Oct 2021Q34.9%4.1%3.3%
15 Jul 2021Q23.3%2.8%1.5%
20 Apr 2021Q11.5%1.4%1.4%
21 Jan 2021Q41.4%1%1.4%
22 Oct 2020Q31.4%1.7%1.5%
The release before:New Zealand Inflation Rate (CPI) 19 April 2023The release after:New Zealand Inflation Rate (CPI) 16 October 2023New Zealand Inflation Rate (CPI): every recent resultThis week’s economic calendar