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Inflation in New Zealand

New Zealand Inflation

Inflation moderates in Q2

Inflation declined to 6.0% in Q2 from 6.7% in Q1. It therefore remained entrenched above the Central Bank’s 1.0%-3.0% target band. The largest contributors to inflation were food and housing and household utilities.

Meanwhile, consumer prices rose 1.07% from the previous quarter in Q2, coming in below Q1’s 1.25% increase.

New Zealand Inflation Chart

This chart displays Inflation Rate (CPI, annual variation in %) for New Zealand from 2013 to 2022.

New Zealand Inflation Data

2018 2019 2020 2021 2022
Inflation (CPI, ann. var. %, aop) 1.6 1.6 1.7 3.9 7.2
Inflation (CPI, ann. var. %, eop) 1.9 1.9 1.4 5.9 7.2
Inflation (PPI, ann. var. %, aop) 3.4 2.1 1.0 4.6 8.3

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