The inflation rate in New Zealand decreased to 7.20 percent YoY in the third quarter of 2022 from 7.30 percent in the second quarter of 2022, as housing and household utilities showed significant increases with rising prices for construction (+17%), rentals for housing (4.6%), and local authority rates (7.3%). The next largest contributor was the transport group, due to higher prices for petrol (+19%) and diesel (+72%). Quarter on quarter, the consumer price index rose 2.2% in the September quarter, with increases in vegetable prices (+24%) being the largest contributor. source: Statistics New Zealand

Inflation Rate in New Zealand averaged 4.62 percent from 1918 until 2022, reaching an all time high of 44.00 percent in the third quarter of 1918 and a record low of -15.30 percent in the first quarter of 1923. This page provides - New Zealand Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2022.

Inflation Rate in New Zealand is expected to be 6.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the New Zealand Inflation Rate is projected to trend around 3.50 percent in 2023 and 3.30 percent in 2024, according to our econometric models.

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New Zealand Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-07-17 10:45 PM Q2 7.3% 6.9% 7.1% 6.8%
2022-10-17 09:45 PM Q3 7.2% 7.3% 6.6% 7.1%


Related Last Previous Unit Reference
Inflation Rate 7.20 7.30 percent Sep 2022
Inflation Rate MoM 2.20 1.70 percent Sep 2022
Consumer Price Index CPI 1186.00 1161.00 points Sep 2022
Core Consumer Prices 1147.00 1132.00 points Jun 2022
GDP Deflator 1348.00 1330.00 points Jun 2022
Producer Prices 1358.00 1336.00 points Sep 2022
Export Prices 1529.00 1474.00 points Jun 2022
Import Prices 1029.00 966.00 points Jun 2022
Food Inflation 10.10 8.30 percent Oct 2022
CPI Transportation 1248.00 1227.00 points Sep 2022
CPI Housing Utilities 1269.00 1240.00 points Sep 2022

New Zealand Inflation Rate
In New Zealand, the most important category in the consumer price index is Housing and Utilities (28 percent of total weight). Food accounts for 18 percent; Transport for 14 percent; Recreation and Culture for 9 percent; Miscellaneous Goods and Services for 8 percent; and Alcoholic beverages and Tobacco for 7 percent. Household Goods and Services; Health; Clothing and Footwear; Communication; and Education account for the remaining 16 percent of total weight.
Actual Previous Highest Lowest Dates Unit Frequency
7.20 7.30 44.00 -15.30 1918 - 2022 percent Quarterly

News Stream
New Zealand Inflation Teeters Down to 7.2%
The inflation rate in New Zealand decreased to 7.20 percent YoY in the third quarter of 2022 from 7.30 percent in the second quarter of 2022, as housing and household utilities showed significant increases with rising prices for construction (+17%), rentals for housing (4.6%), and local authority rates (7.3%). The next largest contributor was the transport group, due to higher prices for petrol (+19%) and diesel (+72%). Quarter on quarter, the consumer price index rose 2.2% in the September quarter, with increases in vegetable prices (+24%) being the largest contributor.
2022-10-17
New Zealand Inflation Rate Hits Highest Level Since 1990
The annual inflation rate in New Zealand increased 7.3 percent in the second quarter of 2022, following a 6.9 percent gain in the previous period and above forecasts of 7.1 percent. It was the highest since the second quarter of 1990, as prices advanced faster for housing & utilities (9.1 percent vs. 8.6 percent in Q1 2022), transportation (14.5 percent vs. 14.3 percent), recreation & culture (4.9 percent vs. 4.8 percent) and alcoholic beverages & tobacco (3.7 percent vs. 2.9 percent). On the other hand, prices eased for food & non-alcoholic beverages (6.5 percent vs. 6.7 percent) and miscellaneous goods & services (5.5 percent vs. 5.6 percent). Compared to the previous quarter, inflation rose 1.7 percent, easing from a 1.8 percent gain in the last period but above market expectations of a 1.5 percent gain.
2022-07-17
New Zealand Inflation Rises to 30-Year Peak
The annual inflation rate in New Zealand increased 6.9% in the first quarter of 2022, following a 5.9 percent gain in the previous period but below forecasts of 7.1%. It was the highest since the second quarter of 1990, as prices advanced faster for housing & utilities (8.6 percent vs 7.6 percent in Q4 2021), food & non-alcoholic beverages (6.7 percent vs 4.1 percent), recreation & culture (4.8 percent vs 4.7 percent), miscellaneous good & services (5.6 percent vs 4.9 percent) and alcoholic beverages and tobacco (2.9 percent vs 1.8 percent). On the other hand, transport prices rose at a softer pace (14.3 percent vs 15.0 percent). Compared to the previous quarter, inflation increased to 1.8 percent.
2022-04-20