Inflation rate

[bomma]

i was going over my dad's contract with him and we realised that there may have been an issue with his remuneration and we reckon he's been underpaid.....could anyone be able to point me to where i would be able to find out the inflation rate on the 1st of August 2007?? or if you are some sort of inflation rate memory machine could you please tell me the inflation rate on that date??:mellow:

[Virago]

Inflation (or Consumer Price Index - CPI) is indexed quarterly. Details here:

http://www.stats.govt.nz/products-and-services/info-releases/cpi-info-releases.htm

[bomma]

cheers for that virago, im just having a lil trouble reading it coz the tables talk about CHANGE in CPI over those quarters versus the level of CPI or whatever.....basically my dad's contract says "if inflation is X or above you will recieve Y amount extra".....i cant seem to find the part that says "the inflation ending this quarter was Z" :doh:

[Virago]

Yeah, because it's measured quarterly, there is no official inflation rates as at other dates.

You can only take it to the nearest quarter, and add the prior four quarters to give an annual inflation rate.

The annual inflation rate for the 12 months ending June 2007 was (0.7+0.2+0.5+1.0) = 2.4%.

The annual inflation rate for the 12 months ending September 2007 was (0.2+0.5+1.0+0.5) = 2.2%.

By comparison, the inflation rate for the last 12 months has been 5.1%. A good starting point for pay negotiations...

[Usarka]

I wonder if this helps, it's a big read though...

http://www.stats.govt.nz/NR/rdonlyres/4C7014DE-D2F5-45E7-B2DC-906B6A9C365E/0/consumerspriceindexdec07qtrhotp.pdf


This resulted in an increase of 1.2 percent in the CPI in the December 2007 quarter, following an
increase of 0.5 percent in the September 2007 quarter.