NZ: CPI likely to print 1.8%/y - TDS

Sandeep Kanihama FXStreet Contributor

Analysts at TD Securities suggest that their December quarter CPI forecast of flat/q and 1.8%/y forecast (same as consensus) is slightly lower than the RBNZ’s 2%/y, but is via an unexpected -3.5%/q slump in fuel prices (Private transport -2.0%/q).

Key Quotes

“Most market forecasts are actually +0.1% but the tail is skewed to the downside (including a few looking for -0.1%/q). Most services prices are expected to creep higher; we know the seasonal slide in Food (-1.4%/q) and a seasonal pop in public transport (+8.4%/q). After official CPI is released, the RBNZ releases sector factoral model CPIs, core measures that RBNZ Governor Orr watches (3pm NZT).”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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