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

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news