Back to API Index

Kerninflation (NZD)

CPI ohne volatile Posten wie Nahrungsmittel und Energie.

Latest reading: 1.5 %YoY · Last updated: · Source: RBNZ/Stats NZ

Category: Economy

API Endpoint

/api/v1/announcements/nzd/core_inflation

Use the production OpenAPI schema for the authoritative REST route metadata.

https://fxmacrodata.com/api/openapi.json

Browse the full endpoint reference

Compare Kerninflation across all supported currencies →

About Kerninflation (NZD)

Core inflation for New Zealand excludes volatile food and energy prices from the consumer price basket, providing a cleaner measure of underlying price dynamics. The Reserve Bank of New Zealand places significant weight on this series when calibrating interest rate decisions.

Why FX traders watch it

Food and energy prices are subject to supply shocks that central banks cannot easily influence. Core inflation removes this noise and better reflects whether domestic demand and wage pressures are pushing prices sustainably higher.

How to interpret the data

Persistent core inflation above target gives the Reserve Bank of New Zealand justification to hold rates high or continue hiking, supporting the nzd. Core inflation trending lower is the clearest signal that rate cuts may be approaching.

Historical Kerninflation (NZD)

Source: RBNZ/Stats NZ  ·  Quarterly  ·  %YoY

Data provided by FXMacroData via the /api/v1/announcements/nzd/core_inflation endpoint. For access, see pricing.

Data Source

Primary Source

RBNZ/Stats NZ

Official Series ID

CPIM3

Data Format and Properties

Data Frequency

Quarterly

Unit of Measure

%YoY

JSON Response Structure

The endpoint returns a chronological list of observations in JSON format. 

{
    "currency": "NZD",
    "indicator": "core_inflation",
    "has_official_forecast": false,
    "start_date": "2023-01-01",
    "end_date": "2023-12-31",
    "data": [
        {
            "date": "2024-07-01",
            "val": 4.2,
            "announcement_datetime": 1722456000
        }
    ]
}

Request Parameters & Usage

Parameter Required Format Description
start_date NO YYYY-MM-DD Optional lower bound for the requested history.
end_date NO YYYY-MM-DD Optional upper bound. Defaults to the current date.
api_key CONDITIONAL string Required for non-USD announcement requests. USD announcement requests are public without an API key.

Example Usage

To retrieve Kerninflation data for NZD from 2023: 

GET https://fxmacrodata.com/api/v1/announcements/nzd/core_inflation?start_date=2023-01-01&end_date=2023-12-31&api_key=YOUR_API_KEY

Frequently Asked Questions

Does the Reserve Bank of New Zealand use core or headline inflation to set rates?
Most central banks reference core or an equivalent 'underlying' measure as the primary policy guide, while also monitoring headline CPI for second-round effects.