Inflation in New Zealand
Consumer price inflation in New Zealand averaged 1.2% in the ten years to 2024, in line with the Australia & New Zealand regional average of 1.2%. The 2024 average figure was 2.9%. For more information on inflation, visit our dedicated page
New Zealand Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for New Zealand from 2014 to 2024.
Source: Macrobond.
New Zealand Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 1.7 | 3.9 | 7.2 | 5.7 | 2.9 |
| Inflation (CPI, ann. var. %, eop) | 1.4 | 5.9 | 7.2 | 4.7 | 2.2 |
| Inflation (PPI, ann. var. %, aop) | 1.0 | 4.6 | 8.3 | 3.1 | 3.4 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects New Zealand inflation projections for the next ten years from a panel of 22 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for New Zealand inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our New Zealand inflation projections.
Want to get access to the full dataset of New Zealand inflation forecasts? Send an email to info@focus-economics.com.