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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
New ZealandNew Zealand Food Price Index fell to -0.3% in February 2013
FMPMonthlyReleased March 2013
New Zealand Food Price Index fell to -0.3% in February 2013, released March 2013, down 2.2% from January's 1.9% reading.
Latest Release
-0.300000
Actual
—
Consensus
1.900000
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| NZD/USD | ▲ Direct | +0.55 | FOREX | Bullish NZD | → View |
| NZD/JPY | ▲ Direct | +0.45 | FOREX | Bullish NZD | → View |
| AUD/NZD | ▼ Inverse | −0.40 | FOREX | Bearish AUD | → View |
| EUR/NZD | ▼ Inverse | −0.35 | FOREX | Bullish NZD | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Food Price Index (New Zealand) was reported at -0.3% in March 2013. The reading fell from the previous value of 1.9%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with NZD/USD (Bullish NZD). A secondary relationship exists with NZD/JPY, positively correlated (Bullish NZD).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include RBNZ Interest Rate Decision (May 27) and Monetary Policy Statement (May 27).
Auto-generated from current model state · Refreshes on each release · Last update March 2013.
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Food Price Index - NZ
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About Food Price Index — New Zealand
DEFINITION
The Food Price Index is a key financial indicator that measures the average change in prices of food items over a specific period of time. It provides valuable insights into the overall trend of food prices, which can have a significant impact on inflation, consumer spending, and the economy as a whole. This indicator is closely monitored by economists, policymakers, and businesses to make informed decisions and predictions about the state of the food market.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Mar 2013): actual -0.3 %.
WHAT'S NEXT
This indicator correlates most strongly with NZD/USD (Bullish NZD, r=0.55) — a useful reference for forex-focused traders.