ANZ New Zealand monthly inflation gauge remains flat in April

ANZ New Zealand monthly inflation gauge remained flat in April. Pricing within the measure continues to show a wedge between increasing costs for housing versus flat-lining prices for most other products and services. The Gauge was up 0.8 percent and 2.2 percent year-on-year (3-month average).

The housing and household utilities group continues to give the main boost for the Gauge. Purchase of housing was up 0.3 percent, while rents rose further a 0.4 percent in April. Electricity and recreational & sporting services also provided positive contributions. Domestic airfares and accommodation services were the major negative contributions.

The underlying ex-housing gauge dropped 0.1 percent in April, following three flat monthly outcomes. It is down 0.1 percent on three months prior. Out of the 36 groups in the Gauge, five rose, five dropped, whereas 26 stayed the same in the month. Any inflationary nuances continue to be narrowly focused in a few pockets throughout the economy.