HiFX Data Update - NZ Q4 CPI Release

HiFX Data Update - NZ Q4 CPI Release

The NZ Consumer Price Index (CPI) for Q4 2016 has just been released.

The CPI came in higher than expected.

NZ CPI Q4/Annual:

Headline Q4 CPI +0.4% / +1.3.% Consensus 0.3% / +1.2%

Non-tradables CPI +0.6% / +2.4% versus previous quarter
Tradables CPI +0.3% / -0.1% versus previous quarter

CPI 10% Trimmed Mean came in at +0.5% for Q4 and +1.6% for the last 12 months.

The non-tradables group is a barometer of domestic inflation.

The NZD is higher in immediate response.

Current indicative levels are:

NZDUSD 0.7285 / 0.7310
NZDAUD 0.9620 / 0.9645
NZDEUR 0.6775 / 0.6800
NZDGBP 0.5765 / 0.5790
NZDJPY 82.50 / 82.75

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