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Economics
5 mins to read

September quarter wobbles, with Stats NZ’s latest price movements

Annual pace of food price growth slows to near two-year low, according to Stats NZ’s new data set.

Food prices rose 6.3% in year to October.

Key points
  • What’s at stake: Whether the Reserve Bank of New Zealand can cut the official cash rate earlier than currently forecast, or whether it needs to hike again because of inflation worries. 
  • Background: Stats NZ has released the new Selected Price Indexes data, which covers 45% of the CPI inflation basket every month. Other manufacturing and service sector data paints weaker economic picture. 
  • Main players: Stats NZ, RBNZ, OCR, Adrian Orr, Mike Jones, Craig Ebert, Henry Russell. 

Stats NZ’s fresh gauge on price movements has been released, showing annual food price growth has eased to the slowest pace in nearly two years.

Today’s new Selected Price Indexes (SPI) data provides more timely information about a broader basket of key inflation drivers, in addition to regular

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Jonathan Mitchell Tue, 14 Nov 2023
Contact the Writer: jmitchell@nbr.co.nz
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Key points
  • What’s at stake: Whether the Reserve Bank of New Zealand can cut the official cash rate earlier than currently forecast, or whether it needs to hike again because of inflation worries. 
  • Background: Stats NZ has released the new Selected Price Indexes data, which covers 45% of the CPI inflation basket every month. Other manufacturing and service sector data paints weaker economic picture. 
  • Main players: Stats NZ, RBNZ, OCR, Adrian Orr, Mike Jones, Craig Ebert, Henry Russell. 
September quarter wobbles, with Stats NZ’s latest price movements
Economics,
101662
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