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. source: Statistics New Zealand

Inflation Rate in New Zealand averaged 4.61 percent from 1918 until 2020, 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 January of 2021.

Inflation Rate in New Zealand is expected to be 0.60 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 0.90 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
1.40 1.40 44.00 -15.30 1918 - 2020 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2020-04-19 10:45 PM Q1 2.5% 1.9% 2.1% 2.1%
2020-07-15 10:45 PM Q2 1.5% 2.5% 1.5% 1.6%
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 1.4%
2021-07-15 10:45 PM Q2
2021-10-22 09:45 PM Q3
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
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 Slows to 1.5% YoY in Q2
Annual inflation rate in New Zealand declined to 1.5 percent year-on-year in the second quarter of 2020 from 2.5 percent in the previous three months, matching market expectations. Prices slowed for housing & utilites (3.2 percent vs 3.3 percent in Q1); health (1.6 percent vs 1.7 percent); recreation & culture (1.2 percent vs 2.1 percent); and miscellaneous goods & services (2.6 percent vs 2.9 percent). Also, cost dropped for transport (-4.2 percent vs 1.5 percent) as a collapse in global oil prices dragged petrol costs down sharply; household contents & services (-1.2 percent vs 1.7 percent); and clothing & footwear (-2.6 percent vs 1.2 percent). On the other side, food prices advanced 3.7 percent, faster than a 3.3 percent rise in the prior period. On a quarterly basis, consumer prices dropped 0.5 percent on quarter, the first fall since Q4 2015, following a 0.8 percent increase in the first quarter of the year.
2020-07-15
New Zealand Inflation Rate Highest Since 2011
Annual inflation rate in New Zealand increased to 2.5 percent in the first quarter of 2020 from 1.9 percent in the previous three months. It was the highest inflation rate since the third quarter of 2011, above market expectations of 2.1 percent. Prices advanced faster for housing & utilities (3.3 percent vs 3.0 in Q4); food & non-alcoholic beverages (3.3 percent vs 2.5 percent); recreation & culture (2.1 percent vs 0.7 percent); miscellaneous goods & services (2.9 percent vs 2.7 percent) and alcoholic beverages & tobacco (5.1 percent vs 4.9 percent). In addition, transport cost rebounded (1.5 percent vs -0.7 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.
2020-04-19

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.