New Zealand skyline

New Zealand Inflation (CPI, ann. var. %, aop)

Inflation Rate in New Zealand

Inflation moderates in Q1

Inflation declined to 6.7% in Q1 from 7.2% in Q4 2022. It therefore remained entrenched above the Central Bank’s 1.0%-3.0% target band. The decline came on the back of softer increases in prices for transport, housing and household utilities, household contents and health.

Meanwhile, consumer prices rose 1.25% from the previous quarter in Q1, coming in below Q4’s 1.43% increase.

New Zealand Inflation Rate Chart

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

New Zealand Inflation Rate Data

2017 2018 2019 2020 2021
Inflation (CPI, ann. var. %, aop) 1.9 1.6 1.6 1.7 3.9

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