New Zealand Inflation Q1 2021

New Zealand

New Zealand: Inflation jumps to over 30-year high in Q1

April 21, 2022

Consumer prices soared 1.8% from the previous quarter in Q1, coming in above Q4 2021’s 1.4% increase. In terms of specific categories, higher prices for food, housing and household utilities and transport drove the reading.

Meanwhile, inflation jumped to 6.9% in Q1 from 5.9% in Q4 2021, logging the fastest print since Q2 1990 and moving further above the Central Bank’s 1.0%-3.0% target band.

FocusEconomics panelists see inflation averaging 4.8% in 2022, which is up 1.0 percentage points from last month’s forecast, and 2.2% in 2023.


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New Zealand Inflation Chart

New Zealand Inflation Q1  2022

Note: Quarter-on-quarter and annual variation of consumer price index in %.
Source: Statistics New Zealand and FocusEconomics calculations.

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