Inflation in New Zealand

New Zealand Inflation | Economic News & Forecasts

New Zealand - Inflation

Inflation jumps to over 10-year high in Q3

Consumer prices soared 2.2% from the previous quarter in Q3, coming in above Q2’s 1.3% jump. Moreover, the reading surprised market expectations and marked the fastest quarter-on-quarter increase since Q4 2010. In terms of specific categories, higher prices for housing and household utilities, food and transport drove the quarter-on-quarter surge in prices.

Meanwhile, inflation jumped to 4.9% in Q3 from 3.3% in Q2, logging the fastest print since Q3 2010 and moving further above the Central Bank’s 1.0%-3.0% target band.

Our panelists see inflation averaging 2.1% in 2022, unchanged from last month’s forecast, and 2.0% in 2023.

New Zealand - Inflation Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)0.3  0.6  1.9  1.6  1.6  

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New Zealand Inflation Chart


New Zealand Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Statistics New Zealand and FocusEconomics calculations.

New Zealand Facts

Value Change Date
Bond Yield1.671.20 %Dec 30
Exchange Rate0.67-1.69 %Jan 01

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