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NZ inflation rate

Prices rose 4.1% in a year (Stats NZ Tatauranga Aotearoa; NZ in Numbers calculation, Jun 2026 qtr).

Updated

The annual inflation rate: the percentage change in the consumers price index (CPI) from the same quarter a year earlier. This is the headline inflation measure reported by Stats NZ and targeted by the Reserve Bank (1–3%).

The CPI measures changes in the prices of goods and services bought by New Zealand households. It is New Zealand's official measure of inflation, published quarterly by Stats NZ, with history back to 1914.

Measures average price change for households; costs for renters, mortgage holders, retirees or low-income households differ. Quarterly from 1915; earlier quarters are missing in the source for some years.

An annual price change compares prices with the same period a year earlier. Each household buys a different mix of goods and services, so its own cost increase can differ from the national basket.

Read the period beside each number before comparing it with another figure. A monthly observation, a quarterly result and a financial year cover different spans of time. The latest release can also revise earlier observations. The chart and downloads keep the published periods so you can check which figures are being compared. A change in inflation describes what happened during that period; it does not by itself explain why it happened or identify the effect of a government policy. Definitions and coverage matter as much as the size of a change.

Sources: Stats NZ Tatauranga Aotearoa; NZ in Numbers calculation; Stats NZ Tatauranga Aotearoa. Last retrieved 10 October 2026.

Inflation, Inflation rate (annual CPI change): %, Sep 1916 qtr to Jun 2026 qtr

Inflation. Annual inflation rate (CPI, all groups), Sep 1916 qtr to Jun 2026 qtr, latest 4.1%.-20%-10%0%10%20%Sep 1916 qtr: 7.9%Sep 1918 qtr: 12.3%Sep 1920 qtr: 15.4%Sep 1921 qtr: −1.8%Mar 1922 qtr: −11.1%Mar 1923 qtr: −4.8%Mar 1924 qtr: 3.2%1916193919571974199220092026
Show the figures
PeriodAnnual inflation rate (CPI, all groups) (%)
Jun 2026 qtr4.1%
Mar 2026 qtr3.1%
Dec 2025 qtr3.1%
Sep 2025 qtr3.0%
Jun 2025 qtr2.7%
Mar 2025 qtr2.5%
Dec 2024 qtr2.2%
Sep 2024 qtr2.2%
Jun 2024 qtr3.3%
Mar 2024 qtr4.0%
Dec 2023 qtr4.7%
Sep 2023 qtr5.6%
Jun 2023 qtr6.0%
Mar 2023 qtr6.7%
Dec 2022 qtr7.2%
Sep 2022 qtr7.2%
Jun 2022 qtr7.3%
Mar 2022 qtr6.9%
Dec 2021 qtr5.9%
Sep 2021 qtr4.9%
Full data: inflation rate
June 2026 quarterAnnual inflation rate (CPI, all groups) 4.1%

The annual inflation rate: the percentage change in the consumers price index (CPI) from the same quarter a year earlier. This is the headline inflation measure reported by Stats NZ and targeted by the Reserve Bank (1–3%).

Inflation. Annual inflation rate (CPI, all groups): 4.1% in Jun 2026 qtr.

Each measure retains its own definition and period. Lines break at changes in basis and missing periods. Choose a measure to see its note and readout.

Download CSVDownload JSONAnalyse with AI

Full downloads for every dataset on this page:

Inflation rate (annual CPI change)CSVJSON
Consumers price index (CPI)CSVJSON
CPI by groupCSVJSON

Inflation: definitions

Inflation rate (annual CPI change)

The annual inflation rate: the percentage change in the consumers price index (CPI) from the same quarter a year earlier. This is the headline inflation measure reported by Stats NZ and targeted by the Reserve Bank (1–3%).

Consumers price index (CPI)

The CPI measures changes in the prices of goods and services bought by New Zealand households. It is New Zealand's official measure of inflation, published quarterly by Stats NZ, with history back to 1914.

CPI by group

Consumers price index for each of the 11 main groups of household spending (food, housing and household utilities, transport and so on). Food runs from 1914; most other groups from 1999.

Inflation: comparison limits

These affect how far the figures can be compared.

Inflation rate (annual CPI change)

  • Measures average price change for households; costs for renters, mortgage holders, retirees or low-income households differ.
  • Quarterly from 1915; earlier quarters are missing in the source for some years.

Consumers price index (CPI)

  • An index: compare changes over time, not the level itself.
  • Measures average household prices; individual households' costs differ (see household living-costs price indexes, to be added).

CPI by group

  • Group indexes start in different years.
  • Housing and household utilities includes rents, rates and construction costs, but not house prices or mortgage interest.

Inflation by NZ government

The last published observation before each term began and ended. The current term uses the latest observation.Change since a government took office is not the same as its effect.

Prime ministersIn officeStartEndChange
Holyoake, MarshallDec 1960 to Dec 19720.3% (Sep 1960 qtr)6.5% (Sep 1972 qtr)A rise of 6.2 percentage points
Kirk, Watt, RowlingDec 1972 to Dec 19756.5% (Sep 1972 qtr)14.8% (Sep 1975 qtr)A rise of 8.3 points
MuldoonDec 1975 to Jul 198414.8% (Sep 1975 qtr)4.7% (Jun 1984 qtr)A fall of 10.1 points
Lange, Palmer, MooreJul 1984 to Nov 19904.7% (Jun 1984 qtr)5.0% (Sep 1990 qtr)A rise of 0.3 points
Bolger, ShipleyNov 1990 to Dec 19995.0% (Sep 1990 qtr)−0.5% (Sep 1999 qtr)A fall of 5.5 points
ClarkDec 1999 to Nov 2008−0.5% (Sep 1999 qtr)5.1% (Sep 2008 qtr)A rise of 5.6 points
Key, EnglishNov 2008 to Oct 20175.1% (Sep 2008 qtr)1.9% (Sep 2017 qtr)A fall of 3.2 points
Ardern, HipkinsOct 2017 to Nov 20231.9% (Sep 2017 qtr)5.6% (Sep 2023 qtr)A rise of 3.7 points
LuxonNov 2023 to now5.6% (Sep 2023 qtr)4.1% (Jun 2026 qtr, latest)A fall of 1.6 points so far
Compare governments on any measure

Inflation: data by period

The latest ten published periods for up to six series in each dataset. The downloads contain every observation.

Inflation rate (annual CPI change)

The annual inflation rate: the percentage change in the consumers price index (CPI) from the same quarter a year earlier. This is the headline inflation measure reported by Stats NZ and targeted by the Reserve Bank (1–3%).

PeriodAnnual inflation rate (CPI, all groups)
Jun 2026 qtr4.1%
Mar 2026 qtr3.1%
Dec 2025 qtr3.1%
Sep 2025 qtr3.0%
Jun 2025 qtr2.7%
Mar 2025 qtr2.5%
Dec 2024 qtr2.2%
Sep 2024 qtr2.2%
Jun 2024 qtr3.3%
Mar 2024 qtr4.0%

Consumers price index (CPI)

The CPI measures changes in the prices of goods and services bought by New Zealand households. It is New Zealand's official measure of inflation, published quarterly by Stats NZ, with history back to 1914.

PeriodCPI, all groups
Jun 2026 qtr1,359.0 index
Mar 2026 qtr1,339.0 index
Dec 2025 qtr1,327.0 index
Sep 2025 qtr1,319.0 index
Jun 2025 qtr1,306.0 index
Mar 2025 qtr1,299.0 index
Dec 2024 qtr1,287.0 index
Sep 2024 qtr1,280.0 index
Jun 2024 qtr1,272.0 index
Mar 2024 qtr1,267.0 index

CPI by group

Consumers price index for each of the 11 main groups of household spending (food, housing and household utilities, transport and so on). Food runs from 1914; most other groups from 1999.

PeriodFoodAlcoholic beverages and tobaccoClothing and footwearHousing and household utilitiesHousehold contents and servicesHealth
Jun 2026 qtr1,379.0 index1,477.0 index1,097.0 index1,479.0 index1,170.0 index1,296.0 index
Mar 2026 qtr1,373.0 index1,473.0 index1,083.0 index1,463.0 index1,163.0 index1,296.0 index
Dec 2025 qtr1,353.0 index1,444.0 index1,085.0 index1,454.0 index1,161.0 index1,250.0 index
Sep 2025 qtr1,364.0 index1,444.0 index1,076.0 index1,447.0 index1,154.0 index1,251.0 index
Jun 2025 qtr1,341.0 index1,437.0 index1,070.0 index1,427.0 index1,166.0 index1,246.0 index
Mar 2025 qtr1,320.0 index1,440.0 index1,069.0 index1,415.0 index1,163.0 index1,245.0 index
Dec 2024 qtr1,297.0 index1,414.0 index1,067.0 index1,405.0 index1,168.0 index1,241.0 index
Sep 2024 qtr1,304.0 index1,412.0 index1,076.0 index1,398.0 index1,174.0 index1,243.0 index
Jun 2024 qtr1,287.0 index1,403.0 index1,079.0 index1,372.0 index1,172.0 index1,193.0 index
Mar 2024 qtr1,286.0 index1,392.0 index1,077.0 index1,357.0 index1,164.0 index1,189.0 index

Inflation: questions for your AI

Download the files, attach them in the assistant you use, then paste the prompt. Its answer is its own reading of the data.

  1. 1Download inflation-rate.csv
  2. 2Attach it in ChatGPT, Claude, Gemini or another assistant
  3. 3
    Paste this prompt

    The attached CSV is inflation rate (annual cpi change), from NZ in Numbers. Describe how each measure has changed, naming its unit and period. Treat changes in basis and missing periods as breaks. Do not infer causation from government terms. Read the limits before comparing. Supporting datasets: inflation-rate, consumers-price-index, cpi-groups.

Questions about inflation in NZ

Short answers with their definitions, sources and limits.

What is the inflation rate in New Zealand?

Related NZ data

These topics put inflation alongside other measures.

Wages: Jobs and welfareRents: Housing

Inflation: sources

The source publication, licence and snapshot used to build this page.

Calculated by NZ in Numbers from Stats NZ Tatauranga Aotearoa, Consumers price index (quarterly).

Organisation
Stats NZ Tatauranga Aotearoa; NZ in Numbers calculation, NZ in Numbers calculation
Licence
Creative Commons Attribution 4.0 International (CC BY 4.0). Calculated by NZ in Numbers from the source datasets listed; please also credit those sources.
Snapshot
SHA256
e76af5a959d9658c742e762e2401e74f87cb349c9691e3b3fd31d8af88e753af
Retrieved
10 October 2026
Formula
Annual inflation (%) = (CPI this quarter ÷ CPI same quarter last year − 1) × 100
Inputs
  • consumers-price-index, CPIQ.SE9A. Source: Stats NZ Tatauranga Aotearoa, Consumers price index (quarterly). Content hash: 1fafdea586b393055f4b864fcac323d1a4e37979d7302156a5962f95b50bc886.

Inflation: sources

The source publication, licence and snapshot used to build this page.

Organisation
Stats NZ Tatauranga Aotearoa, Consumers price index (quarterly)
Licence
Creative Commons Attribution 4.0 International (CC BY 4.0). This work is based on Stats NZ's data which are licensed by Stats NZ for reuse under the Creative Commons Attribution 4.0 International licence.
Reuse limits
Photos, graphics and logos are excluded. Stats NZ logos and government emblems must not be used.
Snapshot
data/raw/statsnz-cpi/2026-10-10_2f938869282d.csv
SHA256
2f938869282d7d7382cb04546e688d9aa1dc6804987d8a466adba5402e9f6675
Retrieved
10 October 2026

Inflation: sources

The source publication, licence and snapshot used to build this page.

Organisation
Stats NZ Tatauranga Aotearoa, Consumers price index (quarterly)
Licence
Creative Commons Attribution 4.0 International (CC BY 4.0). This work is based on Stats NZ's data which are licensed by Stats NZ for reuse under the Creative Commons Attribution 4.0 International licence.
Reuse limits
Photos, graphics and logos are excluded. Stats NZ logos and government emblems must not be used.
Snapshot
data/raw/statsnz-cpi/2026-10-10_2f938869282d.csv
SHA256
2f938869282d7d7382cb04546e688d9aa1dc6804987d8a466adba5402e9f6675
Retrieved
10 October 2026