CPI tagged posts
May 12, 2016 New Zealand Finance
Prices of food fruits and vegetables in New Zealand have risen, although meat and grocery items have become cheaper.
In a press release on May 12th Statistics New Zealand showed that in the year ending April 2016 the price of food in New Zealand rose by 0.5 percent.
The overall rise in the price of food was attributed to a disproportionate increase in the cost of fruits and vegetables, which rose by 8.9 percent.
Over the month of April alone, the price of fruits and vegetables rose by 6.3 percent, although the levels falls to 4.8 percent after seasonal adjustments are taken into account.
It was shown that the hike in prices was led mainly by tomatoes and avocados.
Conversely, the price of grocery items decreased by 1...Read More
April 19, 2016 New Zealand Taxation
Increasing taxes on cigarettes have pushed New Zealand’s CPI upward, despite falls in price of travel and recreation.
On April 18th Statistics New Zealand released the latest data on the Consumer Price Index in New Zealand, showing a rise of 0.2 percent over the March 2016 quarter.
The increase to the CPI was caused mainly by an increase in the price of food, alcohol and tobacco, and housing, which contributed 0.216 points, 0.264 points, and 0.136 points, respectively.
The increases were countered by decreases to the prices of transport and recreation, which contributed -0.5 points, and -0.09 points, respectively.
It was noted that among alcohol and tobacco, the price of cigarettes was the biggest upward contributor, and the government’s annual hikes to the rate of excise taxes on tobacc...Read More
July 18, 2013 New Zealand Finance
New Zealand’s CPI has fallen to the lowest level in 13 years.
On July 16th Statistics New Zealand released a new statement showing that the Consumer Price Index (CPI) over the year ending June 2013 was only 0.7 percent, the lowest level since 1999.
Over the course of the year, the most significant contributors to the overall price increase were a 2.6 percent increase in electricity costs, a 7 percent hike in vegetable prices, and a 1.7 percent and a 0.4 percent rise in the costs of purchasing and renting housing respectively.
The price of fruit over the year was the biggest drop, falling by 5.5 percent, followed by petrol and second hand cars, which decreased by 2.5 percent and 1.9 percent respectively.Read More
Photo by Sandy Austin
October 23, 2008 New Zealand Finance
The Reserve Bank has cut the Official Cash Rate (OCR) to 6.5%.
On Thursday 23rd of October, the Reserve Bank Governor, Alan Bollard, stated that the OCR is cut by 100 basis points, or 1 %, bringing the rate to 6.5%. While this move may seem counter-intuitive considering New Zealand’s recent level of high inflation, the aim of the move was to counter-balance the oncoming times of credit tightening and fears. Governor Alan Bollard said in a statement, that New Zealand is likely to face an oncoming time of low export demand and decreased levels of credit availability. He also predicted a time of decreased consumer and business spending, justifying the OCR rate cut decision...Read More