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Financial News: New Zealand Consumer Prices Rise 1.4% On Year

New Zealand Consumer Prices Rise 1.4% On Year In Q4

01/21/2021 - 17:44:00 (RTTNews)

(RTTNews) - Consumer prices in New Zealand were up 1.4 percent on year in the fourth quarter of 2020, Statistics New Zealand said on Friday - unchanged from the previous three months and exceeding expectations for an increase of 1.0 percent.

Individually, housing and household utilities increased 2.6 percent on year, with rentals for housing up 2.9 percent. Food prices increased 2.5 percent, with fruit and vegetables up 8.6 percent.

Alcoholic beverages and tobacco increased 6.0 percent with cigarettes and tobacco up 11 percent. Transport prices decreased 3.7 percent with private transport supplies and services down 8.1 percent.

On a seasonally adjusted quarterly basis, inflation rose 0.6 percent (0.5 percent unadjusted) - beating expectations for a flat reading following the 0.7 percent gain in the previous three months.

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