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Annual increase of 1.9 percent in CPI
Embargoed until 10:45am  –  16 July 2009

Consumers Price Index: June 2009 quarter  –  Media Release

The consumers price index (CPI) increased 1.9 percent from the June 2008 quarter to the June 2009 quarter, which included a rise of 0.6 percent for the June 2009 quarter, Statistics New Zealand said today. This annual increase is the smallest since a 1.8 percent rise recorded in the year to the September 2007 quarter.

The food group (up 0.9 percent) made the biggest upward contribution to the quarterly CPI increase of 0.6 percent, driven by higher vegetable prices (up 6.9 percent). Higher prices for vegetables were partly offset by lower fruit prices (down 6.0 percent). In the year to the June 2009 quarter, the food group increased 7.5 percent, accounting for two-thirds of the CPI annual increase of 1.9 percent.

The transport group rose 0.6 percent in the June 2009 quarter. Higher prices for petrol (up 3.2 percent) and second-hand cars (up 4.4 percent) were partly offset by a decrease in international air transport prices (down 14.4 percent). Transport prices fell 6.6 percent in the year to the June 2009 quarter, with lower prices for petrol (down 17.0 percent), international air transport (down 20.7 percent), and diesel (down 38.3 percent). If petrol and diesel prices had remained unchanged from the June 2008 quarter to the June 2009 quarter, the CPI would have increased 3.0 percent.

The housing and household utilities group rose 0.4 percent in the June 2009 quarter, with higher electricity prices, up 1.6 percent. The housing and household utilities group rose 2.8 percent in the year to the June 2009 quarter. This is the smallest annual increase since the year to the March 2002 quarter. For the first time since the year to the September 1999 quarter, the annual increase for purchase of new housing (up 1.3 percent) is lower than rentals for housing (up 1.7 percent).

 Geoff Bascand 16 July 2009 
 Government Statistician  

END

For media enquiries contact:
Chris Pike
Wellington 04 931 4600
Email: info@stats.govt.nz

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