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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
New ZealandNew Zealand PPI Input fell to -0.2% in August 2023
FMPMonthlyReleased August 2023
New Zealand PPI Input fell to -0.2% in August 2023, down 0.2% from July's 0.0% reading. The print came in cooler than the 0.2% consensus, a softer print than forecasters anticipated. The print is running well above the 12-month average of -0.4%. PPI Input is now the highest in 103 months.
Latest Release
-0.2
Actual
0.2
Consensus
0
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
PPI Input (New Zealand) was reported at -0.2% in August 2023. This missed the market consensus of 0.2% by 0.4%. The reading fell from the previous value of 0%.
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 August 2023.
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PPI Input - NZ
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About PPI Input — New Zealand
DEFINITION
PPI Input, or Producer Price Index Input, is a financial indicator that measures the average change in prices of goods and services purchased by producers for use in their production process. It provides valuable insights into the cost of raw materials and other inputs for businesses, and is often used as a leading indicator of inflation. PPI Input is an important tool for investors and policymakers in understanding the overall health of the economy and making informed decisions.
WHY THIS INDICATOR MATTERS
Inflation prints feed directly into central-bank policy expectations and real-yield calculations, and are among the most rate-sensitive releases on the calendar. 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 (Aug 2023): actual -0.2 %, consensus 0.2 %. Prior reading (Feb 2015): -0.4 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially lower reading versus the latest print. Current dynamics are the primary headwind in the projection. This indicator correlates most strongly with NZD/USD (Bullish NZD, r=0.55) — a useful reference for forex-focused traders.