Selected Price Indexes

Series

Title

Selected Price Indexes

en-NZ
Alternate Title

SPI

en-NZ
Rights

Stats NZ

en-NZ
Abstract

The selected price indexes (SPI) combines the Food price index, Rental price indexes, and new price index data into a single release.

The SPI contains the following:

  • The entire food group, comprised of the following subgroups:

              - Fruit and vegetables

              - Meat, poultry and fish

              - Grocery food

              - Non-alcoholic beverages

              - Restaurant meals and ready to eat food.

  • The entire alcoholic beverages and tobacco group

  • The rental price indexes (stock and flow index)

  • The following classes from the Transport group:

              - Petrol prices

              - Diesel prices

              - Domestic and international air transport

  • The accommodation services subgroup

Further information about these groups can be found on the page for the consumers price index, the food price index and rental price index pages (see related series below)

en-NZ
Usage and limitations of the data

The SPI covers 44 percent (by weight) of the consumers price index (CPI) basket of goods.

SPI can be factored into monetary policy decisions and potentially be used to forecast official CPI inflation.

Though this release includes more monthly data that comprises the CPI, this is not an indicative CPI measure, and no monthly headline CPI is being calculated.

It is costly to implement a monthly CPI, whether a true index or an indicative measure. The approach we have taken is utilising all the data we currently collect to quickly and cost-effectively implement changes that will be required in the future to produce a monthly CPI.

Aside from cost, another remaining constraint is the availability of data that measures monthly price changes of goods and services that are challenging to collect, such as the construction of new houses which is currently a quarterly survey to construction companies.

en-NZ
Main users of the data

Economic analysts, the media, researchers, and the National Accounts and Customer Services areas of Statistics NZ.

Related Series

Consumers Price Index

en-NZ

Related Series

Food Price Index

en-NZ

Related Series

Rental Price Index

en-NZ

Appears Within

No references.

Information

History

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Revision Date Responsibility Rationale
12 13/11/2023 3:36:35 PM