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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
New ZealandNew Zealand PPI Input QoQ climbed to 1.9% in Q3 2024
FMPMonthlyReleased November 2024
New Zealand PPI Input QoQ climbed to 1.9% in Q3 2024, released November 2024, up 0.5% from June's 1.4% reading. The print came in hotter than the 1.0% consensus, a hotter print than forecasters anticipated. PPI Input QoQ has now risen for 3 consecutive months. PPI Input QoQ is now the highest in 24 months.
Latest Release
1.9
Actual
1
Consensus
1.4
Previous
Median Absolute Error
±0.5 percentage points
across last 12 releases
Last Call
Nov 2024
Predicted: 1
Actual: 1.9
Error: -0.9
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 QoQ (New Zealand) was reported at 1.9% in November 2024. This beat the market consensus of 1% by 0.9%. The reading rose from the previous value of 1.4%.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 1.33%, up from the prior three at 0.63%.
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). Over the last 12 releases, the Sigmacast model's median absolute error is 0.5%.
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 November 2024.
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PPI Input QoQ - NZ
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About PPI Input QoQ — New Zealand
DEFINITION
PPI Input QoQ stands for Producer Price Index Input Quarter-over-Quarter. It is a financial indicator that measures the change in prices of goods and services purchased by producers in a specific quarter compared to the previous quarter. This indicator is used to track inflationary pressures in the production process and can provide insights into the overall health of the economy. PPI Input QoQ is often used by investors, policymakers, and businesses to make informed decisions about pricing, production, and investment strategies.
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 (Jul 2024): actual 1.9 %, consensus 1 %. Prior reading (Apr 2024): 1.4 %. Before that (Jan 2024): 0.7 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with NZD/USD (Bullish NZD, r=0.55) — a useful reference for forex-focused traders.