Price Level of Household Consumption for New Zealand
PLCCPPNZA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.03
Year-over-Year Change
10.21%
Date Range
1/1/1950 - 1/1/2019
Summary
The Price Level of Household Consumption for New Zealand is an economic indicator that measures the overall price changes for goods and services consumed by households in New Zealand. It is a key metric for evaluating the nation's inflationary pressures and consumer purchasing power.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This price index tracks the average change in prices paid by New Zealand households for a fixed basket of consumer goods and services. It is a widely used gauge of domestic inflation and a crucial input for policymakers and analysts assessing the state of the New Zealand economy.
Methodology
The data is collected through surveys of household expenditures and calculated as a chained Fisher index.
Historical Context
The Price Level of Household Consumption is closely monitored by the Reserve Bank of New Zealand in formulating monetary policy and setting interest rates.
Key Facts
- The index has a base year of 2010.
- It covers over 700 different consumer goods and services.
- Quarterly data is available from 1999 to the present.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Household Consumption for New Zealand measures the average change in prices paid by households for a basket of consumer goods and services.
Q: Why is this trend relevant for users or analysts?
A: This indicator is a crucial metric for evaluating domestic inflation and consumer purchasing power in New Zealand, which informs policymaking and economic analysis.
Q: How is this data collected or calculated?
A: The data is collected through surveys of household expenditures and calculated as a chained Fisher price index.
Q: How is this trend used in economic policy?
A: The Reserve Bank of New Zealand closely monitors the Price Level of Household Consumption when formulating monetary policy and setting interest rates.
Q: Are there update delays or limitations?
A: Quarterly data is available from 1999 to the present, with no known significant delays or limitations.
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Citation
U.S. Federal Reserve, Price Level of Household Consumption for New Zealand (PLCCPPNZA670NRUG), retrieved from FRED.