CPI up 0.6% for quarter, 2.5% for year

Sunday 17 October 2004

The consumers price index (CPI) rose 0.6% in the September quarter, pushed up by a 1.6% rise in the housing sector and taking the annual inflation rate to 2.5%.

By The Landlord

That housing sector rise was pushed up by a 1.9% increase from higher prices for the construction & purchase of new homes plus 3.2% for increases in council rates.

Statistics NZ said alcohol & higher prices for international flights also contributed. The 2.2% rise in the tobacco & alcohol index was driven by an increase in excise duty on 1 June. International air travel prices rose 5.9%, raising the transport index 0.5%.

Major contributors to the 2.5% annual inflation rate were construction prices, up 9%, & petrol up 11.9%.


The inflation rate was last at 2.5% 18 months ago. It got down to 1.5% for 3 of the next 4 quarters then rose to 2.4% in the June quarter.

Read More - Opens in a new window
Commenting is closed

Property News

Return to market form

There’s been a rallying of the market with the latest REINZ data showing both sales volumes and median house prices noticeably up with the onset of Spring.

House Prices

No stopping Capital price rises

There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.

Commercial

NZ proptech start-up scores major investor

Auckland-based commercial property disrupter, Jasper, has raised $2.3 million in seed funding following investment from European asset manager M7 Real Estate.

Mortgages

LVR limits slow down investors

LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.

Site by PHP Developer