“We’ve introduced an improved method for calculating rent prices that incorporates all tenancy bonds lodged, compared with the previous method of using a survey of landlords,” Mr Pascoe said.
“Samples tend to get less representative the longer they are used, while our new method captures all tenancies, not just a sample.”
New methodology for rental prices in the CPI explains the new method and compares this with the previous one used.
Construction prices have slowed down, rising 0.7 percent for the second quarter in a row. This has reduced the annual increase to just 3.5 percent, the lowest it has been since the March 2013 quarter.
“The fall in construction price inflation is consistent with construction activity having slowed down since its peak in 2016,” Mr Pascoe said.
View a video summary of the Consumers price index: June 2019 quarter on the Stats NZ YouTube channel after 11am today.