Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

NZ: Food Price index - October 2001

Data Flash (New Zealand)
NZ: Food Price index - October 2001

Key points

The last piece of domestic data prior to tomorrow's RBNZ MPS and OCR review revealed a 0.2% mom rise in the food price index in October (the market expectation was for a flat outcome).

The annual rate of food price inflation declined from 7.8% in September to 7.7% in October.

Fruit and vegetable prices fell 2.0% mom. However, this was offset by a further 0.8% mom rise in meat prices and a 0.5% mom rise in general grocery prices.

Comment

Our preliminary forecast for the Q4 CPI is +0.5% qoq (the RBNZ forecast 0.6% qoq in its August MPS). This result would see the annual rate decline from 2.4% to 1.7%.

We continue to expect a 50bps decline in the RBNZ's OCR at tomorrow's OCR review (70% probability; market pricing 90% probability), taking the OCR to 4.75%. Given that the global situation remains fluid, we expect the RBNZ will refrain from making strong statements about the expected outlook for policy settings in the accompanying MPS.

Darren Gibbs, Senior Economist


This, along with an extensive range of other publications, is available on our web site http://research.gm.db.com

Please do not respond to this mailbox. If you need to update your contact information or request new research, contact your Deutsche Bank Sales Contact.


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>