Annual inflation rate in New Zealand jumped to 3.3 percent year-on-year in the second quarter of 2021, from 1.5 percent in the previous three-month period and above market expectations of 2.8 percent. This was the biggest increase in consumer prices in nearly 10 years, reflecting a low base year due to the COVID-19 crisis and the ongoing economic recovery. Main upward pressure came from purchase of new housing (7.4 percent), petrol cost (16.1 percent), and rent prices (2.9 percent). On a quarterly basis, consumer prices rose by 1.3 percent, also the largest gain in over a decade. source: Statistics New Zealand

Inflation Rate in New Zealand averaged 4.60 percent from 1918 until 2021, reaching an all time high of 44 percent in the third quarter of 1918 and a record low of -15.30 percent in the first quarter of 1923. This page provides - New Zealand Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2021.

Inflation Rate in New Zealand is expected to be 2.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in New Zealand to stand at 1.50 in 12 months time. In the long-term, the New Zealand Inflation Rate is projected to trend around 1.20 percent in 2022, according to our econometric models.

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New Zealand Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
3.30 1.50 44.00 -15.30 1918 - 2021 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2020-10-22 09:45 PM Q3 1.4% 1.5% 1.7% 1.7%
2021-01-21 09:45 PM Q4 1.4% 1.4% 1% 1.1%
2021-04-20 10:45 PM Q1 1.5% 1.4% 1.4% 1.5%
2021-07-15 10:45 PM Q2 3.3% 1.5% 2.8% 2.4%
2021-10-22 09:45 PM Q3 3.3% 2.3%
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News Stream
New Zealand Inflation Rate Hits 10-Year High
Annual inflation rate in New Zealand jumped to 3.3 percent year-on-year in the second quarter of 2021, from 1.5 percent in the previous three-month period and above market expectations of 2.8 percent. This was the biggest increase in consumer prices in nearly 10 years, reflecting a low base year due to the COVID-19 crisis and the ongoing economic recovery. Main upward pressure came from purchase of new housing (7.4 percent), petrol cost (16.1 percent), and rent prices (2.9 percent). On a quarterly basis, consumer prices rose by 1.3 percent, also the largest gain in over a decade.
2021-07-15
New Zealand Inflation Rate Climbs in Q1
Annual inflation rate in New Zealand increased to 1.5 percent in the first quarter of 2021 from 1.4 percent in the previous three months and compared with market expectations of a 1.4% gain. Transport prices rebounded (1.7 percent vs -3.7 percent in Q4) while cost advanced faster for miscellaneous good and services (1.9 percent vs 1.6 percent) and education (2.6 percent vs 0.9 percent). Meantime, housing and household utilities inflation was steady (at 2.6 percent). In contrast, prices went up at a softer pace for food (1.1 percent vs 2.5 percent) and recreation and culture (0.7 percent vs 1.8 percent). On a quarterly basis, consumer prices rose 0.8 percent over the previous period, following a 0.5 percent increase in the prior quarter.
2021-04-20
New Zealand Inflation Rate Still at 1.4%
The annual inflation rate in New Zealand remained unchanged at 1.4 percent in the fourth quarter of 2020, well above market expectations of a 1 percent increase. It was the lowest inflation rate since the first quarter of 2018, amid the coronavirus pandemic. Non-tradable inflation jumped 2.8 percent after increasing 2.6 percent in the year to September. Prices of housing and household utilities increased 2.6 percent, with rentals up 2.9 percent. Meanwhile, food prices rose 2.5 percent, with prices of fruit and vegetables surging 8.6 percent. Also, liquor & tobacco inflation was recorded at 6 percent, with prices of cigarettes up 11 percent. On the flip side, transport prices decreased 3.7 percent, dragged by lockdowns and an 8.1 percent drop in private transport supplies and services. On a quarterly basis, consumer prices went up 0.5 percent following a 0.7 percent increase in the previous period.
2021-01-21
New Zealand Inflation Rate Slows to Over 2-Year Low
The annual inflation rate in New Zealand edged down to 1.4 percent in the third quarter of 2020 from 1.5 percent in the previous period and below market expectations of a 1.7 percent increase. It was the lowest inflation rate since the first quarter of 2018, amid the coronavirus pandemic. Prices slowed for housing & household utilities (2.6 percent vs 3.2 percent in Q2); recreation & culture (0.8 percent vs 1.2 percent); and miscellaneous goods & services (2.3 percent vs 2.6 percent). Also, cost of communication dropped at a faster pace (-2.9 percent vs -1.4 percent). On the other hand, inflation was steady for food (at 3.7 percent); and liquor & tobacco (at 5.1 percent). In addition, prices advanced further for education (0.9 percent vs 0.8 percent) and health (1.9 percent vs 1.6 percent), while cost of transport fell at a softer pace (-3.9 percent vs -4.2 percent). On a quarterly basis, consumer prices went up 0.7 percent, rebounding from a 0.5 percent drop in the previous period.
2020-10-22

New Zealand Inflation Rate
In New Zealand, the most important category in the consumer price index is Housing and Utilities (24.2 percent of total weight). Food and Non-Alcoholic Beverages accounts for 18.8 percent; Transport for 15 percent; Recreation and Culture for 9.4 percent; Miscellaneous Goods and Services for 7.4 percent and Alcoholic beverages and Tobacco for 7 percent. Furniture, Household Goods and Maintenance; Clothing and Footwear; Health; Communication and Education account for the remaining 18.2 percent of total weight.