New Zealand PPI Output Prices Rise More than Expected

Producer output prices in New Zealand increased 1.6% quarter-on-quarter in the June quarter of 2026, exceeding both the previous quarter’s 0.8% increase and market expectations of a 0.8% rise. It marked the fastest pace since the first quarter of 2025, boosted mainly by three sectors, with the largest contributions coming from electricity and gas supply (11.0%), dairy product manufacturing (3.9%), and road transport (8.4%). On a yearly basis, output prices rose 3.2%, accelerating from a 2.2% increase in the first quarter.

Producer output prices in New Zealand climbed 0.8% quarter-on-quarter in the March quarter of 2026, accelerating from a 0.1% increase in the previous quarter and exceeding expectations of a 0.5% rise. It marked the fastest pace since the first quarter of 2025, boosted mainly by two sectors, with the largest contributions coming from cattle farming, which rose 7.5%, while electricity and gas supply increased 6.1%. By contrast, dairy product manufacturing fell 6.4%. On a yearly basis, output prices rose 2.2%, accelerating from a 0.5% growth in the fourth quarter of 2025.

Producer output prices in New Zealand rose by 0.1% quarter-on-quarter in the December quarter of 2025, easing from a 0.6% increase in the previous quarter and less than the expected 0.7%. The increase was supported by broad-based movements across sectors, with the largest contributions coming from electricity and gas supply fell 16.9%, dairy cattle farming dropped 9%, while sheep, beef cattle, and grain farming, rose 7.1%.