What is the inflation rate in New Zealand?
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%).
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.
Annual inflation rate (CPI, all groups) was 2.7% in Jun 2025 qtr, a year earlier.
The earliest observation on the same basis was 7.9% in Sep 1916 qtr.
Inflation: definitions
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%).
- 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.
Show the figures
| Period | Annual inflation rate (CPI, all groups) (%) |
|---|---|
| Jun 2026 qtr | 4.1% |
| Mar 2026 qtr | 3.1% |
| Dec 2025 qtr | 3.1% |
| Sep 2025 qtr | 3.0% |
| Jun 2025 qtr | 2.7% |
| Mar 2025 qtr | 2.5% |
| Dec 2024 qtr | 2.2% |
| Sep 2024 qtr | 2.2% |
| Jun 2024 qtr | 3.3% |
| Mar 2024 qtr | 4.0% |
| Dec 2023 qtr | 4.7% |
| Sep 2023 qtr | 5.6% |
| Jun 2023 qtr | 6.0% |
| Mar 2023 qtr | 6.7% |
| Dec 2022 qtr | 7.2% |
| Sep 2022 qtr | 7.2% |
| Jun 2022 qtr | 7.3% |
| Mar 2022 qtr | 6.9% |
| Dec 2021 qtr | 5.9% |
| Sep 2021 qtr | 4.9% |
Quarters, labelled by their final month. Source: Stats NZ Tatauranga Aotearoa; NZ in Numbers calculation. Lines break at basis changes and missing periods.
Inflation: questions for your AI
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The attached CSV is Inflation rate (annual CPI change), from Stats NZ Tatauranga Aotearoa; NZ in Numbers calculation. Answer: What is the inflation rate in New Zealand? Name the unit and period. Use only directly supported observations. Definitions: 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%). Limits: 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.
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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.