New Zealand will begin publishing additional monthly price indexes

<p>New Zealand is the only OECD nation still relying on quarterly inflation data.</p><p>Statistics New Zealand have announced that they'll begin publishing additional monthly price indexes to assist the central bank and economists to more accurately forecast quarterly headline inflation.</p><ul><li>the first round of data will be released on November 14. </li><li>Full text: <a href="https://www.stats.govt.nz/news/additional-monthly-price-indexes-on-the-way/" target="_blank" rel="nofollow">Additional monthly price indexes on the way</a></li></ul><p>New price index data to be published monthly are:
</p><ul><li>
alcoholic beverages and tobacco
</li><li>petrol and diesel
</li><li>domestic and international airfares
</li><li>accommodation services.
</li></ul><p>Stats NZ produces monthly food and rent price indexes. The new data will be combined with the existing food and rent data in a new release to be called Selected price indexes (SPI).</p><p>RBNZ chief economist Paul Conway</p><ul><li>“Getting reliable price data faster is critical to our job of controlling inflation and getting it back in our target band” </li><li>“Monthly prices data is a very welcome addition that will help the Monetary Policy Committee make wise decisions” </li></ul>

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