Here are the data results for New Zealand inflation in Q1.

The CPI comes in at:

-0.3 % q/q

  • expected -0.2%
  • prior was -0.2%

+0.1 % y/y (smallest annual movement since the September 1999 quarter, when prices decreased 0.5 percent over the year)

  • expected +0.2%
  • prior was +0.8%

NZD had a bit of a dip, and as I update are barely changed pre-release

More:

  • two consecutive quarterly falls (the last time this happened was in the December 1998 and March 1999 quarters)
  • 11 percent fall in petrol prices. Without petrol, the CPI rose 0.3 percent
  • Prices of tradable goods and services (which face foreign competition) decreased 2.8 percent in the year
  • Tradable prices are now at their lowest level since the June 2009 quarter, despite petrol prices now being 12 percent higher than they were in that quarter
  • Non-tradable goods and services increased 2.3 percent, the lowest annual increase since the September 2012 quarter