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Consumers Price Index: March 2015 quarter – corrected
Embargoed until 11:30am  –  08 September 2015
Key facts

We republished Consumers Price Index: March 2015 quarter on 8 September 2015 to correct a one-off processing error that affected the March and June 2015 quarters' index numbers.

Quarterly change

In the March 2015 quarter compared with the December 2014 quarter:

  • The consumers price index (CPI) fell 0.2 percent to a level of 1195.
  • Petrol prices fell 11 percent, making the largest downward contribution.
  • International air fares (down 15 percent) and package holidays (down 6.6 percent) showed seasonal falls. 
  • Cigarette and tobacco prices rose 12 percent, after excise duty rose 11.09 percent on 1 January 2015.
  • Prices for fruit (up 12 percent), rentals for housing (up 0.8 percent), and newly built houses excluding land (up 0.8 percent) also rose.
Annual change

From the March 2014 quarter to the March 2015 quarter:

  • The CPI increased 0.3 percent.  
  • Prices of  tradable goods and services decreased 2.4 percent, the largest annual fall since the series began in 1999. Petrol (down 15 percent) was the main contributor.
  • Prices for non-tradable goods and services increased 2.4 percent.
  • Prices for non-tradables such as cigarettes and tobacco (up 14 percent), newly built houses excluding land (up 5.0 percent), rentals for housing (up 2.3 percent), and electricity (up 3.6 percent) all increased.

The CPI measures the rate of price change of goods and services purchased by New Zealand households. Statistics NZ visits 2,800 shops around New Zealand to collect prices for the CPI and check product sizes and features.

See corrections for details of the changes.

Liz MacPherson, Government Statistician
ISSN 1178-0452
8 September 2015

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