What is the CPI?
CPI stands for Consumer Price Index. The CPI measures the average change of prices for goods and services over time. It’s a widely used indicator for inflation. By tracking changes in the prices of these items over time, the CPI provides insights into the overall inflation rate.
The RBNZ (Reserve Bank of New Zealand) closely monitor CPI as part of their decision-making process around monetary policy decisions. For example, if OCR should be increased, decreased, or stay the same.
In New Zealand, the RBNZ target CPI is between 1% - 3%.
CPI Announcement dates for 2024:
24th January – Q4 2023
17th April – Q1 2024
19th July – Q2 2024
17th October – Q3 2024
Also see our blog article on OCR announcements. For updates and latest blogs, be sure to subscribe to the Vive Newsletter.
