Statistics New Zealand has reported the Consumer Price Index (CPI) fell 0.2% in the December quarter and annual inflation fell to 0.8%, which is below the Reserve Bank's 1-3% target and slightly below most economists' forecasts.
The consensus of economist forecasts was for a 0.1% fall for the quarter and annual inflation of 0.9%. The Reserve Bank forecast in its December quarter Monetary Policy Statement that inflation in the quarter would be 0.1% and annual inflation would be 1.0%.
Economists have been delaying their forecasts for the next Reserve Bank rate rise until into either 2015 or 2016 in recent weeks because increased signs of deflationary pressures as the European and Chinese economies slow and oil prices slump. Fixed mortgage rates have fallen in recent months in line with inflation expectations in financial markets.
Prices for petrol, vegetables and telecommunciations fell during the quarter, while the price of newly built houses and domestic airfares rose, Statistics NZ said.
The New Zealand dollar immediately dropped around 30 basis points to 76.4 USc.
For the year, cigarette and tobacco prices rose 11.9% because of an excise increase in January, while the cost of newly built homes rose 5.4% and electricity prices rose 3.6% for the year.
Petrol prices fell 4% for the year, audio visual and computing equipment costs fell 14% and alcoholic beverages costs fell 2.4%.
Without the rise in power prices and tobacco taxes, annual inflation would have been 0.35%.
发表于 2015-1-21 11:46:52
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