Annual inflation rate in New Zealand increased to 3.1% in the December 2025 quarter, the highest since the June 2024 quarter, from 3.0% in the previous period and slightly above forecasts. The largest contributors were all in the housing and household utilities group, namely electricity (12.2%, the highest since the March 1989 quarter), local authority rates and payments (8.8%) and rent (1.9%). Compared to the previous quarter, the CPI increased 0.6%, following a 1.0% rise in the previous period. International air transport, up 7.2%, was the largest upwards contributor to the quarterly rise, while petrol, up 2.5%, also added to the increase. Lower vegetable prices, down 16.5%, helped offset the quarterly rise, driven by seasonal falls for tomatoes, cucumbers, capsicums, lettuce, and broccoli. source: Statistics New Zealand

Inflation Rate in New Zealand increased to 3.10 percent in the fourth quarter of 2025 from 3 percent in the third quarter of 2025. Inflation Rate in New Zealand averaged 4.60 percent from 1918 until 2025, reaching an all time high of 44.00 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 February of 2026.

Inflation Rate in New Zealand increased to 3.10 percent in the fourth quarter of 2025 from 3 percent in the third quarter of 2025. Inflation Rate in New Zealand is expected to be 2.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the New Zealand Inflation Rate is projected to trend around 2.10 percent in 2027 and 2.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-10-19 09:45 PM
Inflation Rate YoY
Q3 3% 2.7% 3% 2.9%
2026-01-22 09:45 PM
Inflation Rate YoY
Q4 3.1% 3% 3% 3.1%
2026-04-20 10:45 PM
Inflation Rate YoY
Q1 3.1% 2.5%


Related Last Previous Unit Reference
CPI 1327.00 1319.00 points Dec 2025
Core Consumer Prices 1325.00 1317.00 points Dec 2025
CPI Housing Utilities 1454.00 1447.00 points Dec 2025
CPI Transportation 1287.00 1258.00 points Dec 2025
Export Prices 1575.00 1601.00 points Sep 2025
Food Inflation YoY 4.00 4.40 percent Dec 2025
GDP Deflator 1541.00 1536.00 points Sep 2025
Import Prices 1026.00 1021.00 points Sep 2025
Inflation Rate YoY 3.10 3.00 percent Dec 2025
Inflation Rate 0.60 1.00 percent Dec 2025
Producer Prices 1492.00 1483.00 points Sep 2025


New Zealand Inflation Rate
In New Zealand, the most important category in the consumer price index is Housing and Utilities (28 percent of total weight). Food accounts for 18 percent; Transport for 14 percent; Recreation and Culture for 9 percent; Miscellaneous Goods and Services for 8 percent; and Alcoholic beverages and Tobacco for 7 percent. Household Goods and Services; Health; Clothing and Footwear; Communication; and Education account for the remaining 16 percent of total weight.
Actual Previous Highest Lowest Dates Unit Frequency
3.10 3.00 44.00 -15.30 1918 - 2025 percent Quarterly

News Stream
New Zealand Inflation Rebounds to Q2 2024 High
Annual inflation rate in New Zealand increased to 3.1% in the December 2025 quarter, the highest since the June 2024 quarter, from 3.0% in the previous period and slightly above forecasts. The largest contributors were all in the housing and household utilities group, namely electricity (12.2%, the highest since the March 1989 quarter), local authority rates and payments (8.8%) and rent (1.9%). Compared to the previous quarter, the CPI increased 0.6%, following a 1.0% rise in the previous period. International air transport, up 7.2%, was the largest upwards contributor to the quarterly rise, while petrol, up 2.5%, also added to the increase. Lower vegetable prices, down 16.5%, helped offset the quarterly rise, driven by seasonal falls for tomatoes, cucumbers, capsicums, lettuce, and broccoli.
2026-01-22
New Zealand Inflation Rate Rises to 3% in Q3
Annual inflation rate in New Zealand increased to 3% in the third quarter of 2025, the highest since the second quarter of 2024, from 2.7% in the previous period and in line with forecasts. The largest contributors were all in the housing and household utilities group, namely electricity (11.3%, the highest since the March 1989 quarter), rent (2.6%), and local authority rates and payments (8.8%). Compared to the previous quarter, the CPI increased 1%, the most in two years, following a 0.5% rise in the previous period. Local authority rates and payments, up 8.8%, was the largest upwards contributor to the quarterly rise. Vegetables, up 12.2%, also contributed, mostly seasonal rises for tomatoes, cabbage, capsicums, lettuce, and broccoli.
2025-10-19
New Zealand Inflation Rate Misses Expectations in Q2
New Zealand’s annual inflation rate edged up to 2.7% in the second quarter of 2025, from 2.5% in the previous quarter, but remained just below market expectations of 2.8%. Key drivers of the annual increase included local authority rates and payments, which rose 3.2% and contributed 12.9% to the overall rise. Rents and electricity prices also climbed by 3.2% and 8.4%, contributing 12.5% and 8.4%, respectively. These gains were partially offset by significant declines in petrol and early childhood education costs. Petrol prices dropped 8%, subtracting 12.8% from the index, while early childhood education fell 22.8%, contributing -4.7%. The latter reflects the impact of the FamilyBoost childcare payment introduced on July 1, 2024. On a quarterly basis, the Consumer Price Index rose 0.5% in the June quarter, slowing from a 0.9% increase in Q1 and missing forecasts of a 0.6% rise.
2025-07-20