Pay rates (LCI), annual % change was +2.0% in Jun 2026 qtr, compared with Jun 2025 qtr.
Updated
Source: Stats NZ Tatauranga Aotearoa; NZ in Numbers calculation. Last retrieved 10 October 2026.
| Period | Pay rates (LCI), annual % change (%) | Prices (CPI), annual % change (%) |
|---|---|---|
| Jun 2026 qtr | 2.0% | 4.1% |
| Mar 2026 qtr | 2.0% | 3.1% |
| Dec 2025 qtr | 2.0% | 3.1% |
| Sep 2025 qtr | 2.1% | 3.0% |
| Jun 2025 qtr | 2.4% | 2.7% |
| Mar 2025 qtr | 2.9% | 2.5% |
| Dec 2024 qtr | 3.2% | 2.2% |
| Sep 2024 qtr | 3.7% | 2.2% |
| Jun 2024 qtr | 4.3% | 3.3% |
| Mar 2024 qtr | 4.1% | 4.0% |
| Dec 2023 qtr | 4.3% | 4.7% |
| Sep 2023 qtr | 4.4% | 5.6% |
| Jun 2023 qtr | 4.3% | 6.0% |
| Mar 2023 qtr | 4.3% | 6.7% |
| Dec 2022 qtr | 4.1% | 7.2% |
| Sep 2022 qtr | 3.7% | 7.2% |
| Jun 2022 qtr | 3.4% | 7.3% |
| Mar 2022 qtr | 3.0% | 6.9% |
| Dec 2021 qtr | 2.6% | 5.9% |
| Sep 2021 qtr | 2.4% | 4.9% |
Lines break at accounting-basis changes and missing periods. Source: Stats NZ Tatauranga Aotearoa; NZ in Numbers calculation.
The annual percentage change in pay rates (Labour Cost Index, all salary and wage rates) alongside the annual inflation rate (CPI). When pay rises faster than prices, pay is rising in real terms.
These affect how the figures can be compared.
The latest ten periods for up to the first six series. Downloads contain every published observation.
| Period | Pay rates (LCI), annual % change | Prices (CPI), annual % change |
|---|---|---|
| Jun 2026 qtr | 2.0% | 4.1% |
| Mar 2026 qtr | 2.0% | 3.1% |
| Dec 2025 qtr | 2.0% | 3.1% |
| Sep 2025 qtr | 2.1% | 3.0% |
| Jun 2025 qtr | 2.4% | 2.7% |
| Mar 2025 qtr | 2.9% | 2.5% |
| Dec 2024 qtr | 3.2% | 2.2% |
| Sep 2024 qtr | 3.7% | 2.2% |
| Jun 2024 qtr | 4.3% | 3.3% |
| Mar 2024 qtr | 4.1% | 4.0% |
Download the file, attach it in the assistant you use, then paste the prompt. Whatever it tells you is its reading of the data, not ours.
The attached CSV is Pay rates vs prices: are wages keeping up? (pay-vs-prices), from Stats NZ Tatauranga Aotearoa; NZ in Numbers calculation, NZ in Numbers calculation. Describe how each measure has changed, naming its unit and period. Treat changes in basis and missing periods as breaks. Distinguish observation from explanation. Limitations: The LCI tracks pay for the same job, so it excludes raises from promotion or changing jobs; average earnings (QES) usually grow faster. Household costs such as mortgage interest are only partly in the CPI.. Do not infer causation from changes during government terms.
Explore related datasets or return to the theme hub.
The source publication, licence and snapshot used to build this page.
Calculated by NZ in Numbers from Stats NZ Tatauranga Aotearoa, Labour Cost Index (salary and wage rates); Stats NZ Tatauranga Aotearoa, Consumers price index (quarterly).
