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New data from Household Expectations Survey to be published

New data from the Reserve Bank’s Tara-ā-Whare Household Expectations Survey will be available from 19 May.

The quarterly Household Expectations Survey is a nationwide sample survey that tracks key economic perceptions and expectations of New Zealand households. In 2021/22 we re-developed the survey to improve data quality, expand the question topics, and better align with international best practice to capture household inflation estimates.

The new Tara-ā-Whare Household Expectations Survey includes changes to the questionnaire wording for inflation expectations, and improvements to the way we capture responses. Questions were added to the survey to expand on the range of inflation expectations estimates over different time periods, and to ask households new questions relevant to our wider mandate, including their employment confidence and cash use.

The survey results are published in table M13: Household inflation expectations.

M13: Household inflation expectations

We are making changes to this table and also introducing new tables with more data from the survey:

We will also publish detailed explanations of the methodology and changes to published series.

A summary of the new and discontinued series is outlined below.

M13: Household inflation expectations

The following new time series will be added to the existing M13 table:

  • Expected inflation rate 2-years (median)
  • Expected inflation rate 2-years (mean)
  • Expected inflation rate 5-years (median)
  • Expected inflation rate 5-years (mean)
  • Net percent expecting higher inflation – derived
  • Net percent expecting inflation
  • Expected house price change 5-years (median)
  • Expected house price change 5-years (mean)

We have revised the following series back to 2011 to provide weighted aggregates, consistent with other series and reflecting the population as a whole:

  • Net percent expecting higher house prices

We have discontinued the following time series which will be replaced by the new series:

  • Expected inflation 5-years (median)
  • Expected inflation 5-years (mean)
  • Net percent expecting higher inflation

H2: Housing and Employment

This table will include the following series:

  • Mortgage worry 3 months ahead (mean)
  • Mortgage worry 3 months ahead (median)
  • Rent worry 3 months ahead (mean)
  • Rent worry 3 months ahead (median)
  • Housing investment behaviour
  • Direction of earnings 12 months ahead
  • % change in earnings 12 months ahead (mean)
  • % change in earnings 12 months ahead (median)
  • Chance of losing job 12 months ahead (mean)
  • Chance of losing job 12 months ahead (median)
  • Chance of finding new job in next 3 months (if current job lost) (mean)
  • Chance of finding new job in the next 3 months (if current job lost) (median)

H3: Cash use (available from 9 June)

This table will include the following series:

  • Importance of saving
  • Paying for everyday things
  • Cash use in past 7 days
  • Ease of getting cash out
  • Ease of depositing cash
  • Cash stored