New Zealand retail sales data -0.1% m/m and -4.9% y/y

August 15, 2024
-FCHFX

August 14, 2024 at 11:50PM
Card spending data covers around 68% of core retail sales in NZ.

You’ll note in the screen shot the Food Price Index data also.

Earlier we had further comments from RBNZ Governor Orr

Reserve Bank New Zealand Governor Orr: Definitely moving the right direction on inflation

Now this data and the kiwi $ remains basically unmoved. What else can we throw at this thing?

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Card spending

Data for purchases made in New Zealand on debit, credit and store cards. Card spending data covers around 68% of core retail sales in NZ. Its used as the main retail sales indicator for the country.

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The New Zealand Food Price Index (FPI) is a measure of the changes in the average price of food items sold in New Zealand.

calculated and published monthly by Statistics New Zealand

the FPI tracks the prices of a basket of food items that represent the typical spending patterns of New Zealand households

the FPI is an important indicator of inflation in New Zealand, as food prices account for a significant portion of household expenditure—

This article was written by Eamonn Sheridan at www.forexlive.com.

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