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