New Zealand Inflation Expectations

Last Release

Sep 30, 2025

Actual

2.28

Units In

2.29

Frequency

Quarterly

Next Release

Nov 11, 2025

Time to Release

3 Months 2 Days 3 Hours

Highest	Lowest	Average	Date Range	Source
8.3 Sep 1987	1.24 Jun 2020	2.52 %	1987-2025	Reserve Bank of New Zealand

In New Zealand, business inflation expectations refer to two-year inflation forecast. Two years is seen as the timeframe when any central bank monetary policy action will filter through to prices.

Latest Updates

The Reserve Bank of New Zealand's (RBNZ) quarterly survey of expectations showed that business managers forecast inflation at 2.28% for the next two years in Q3 2025, edging down from 2.29% in the previous three-month period. Additionally, one-year inflation expectations eased to 2.37% from 2.41%. Meanwhile, longer-term projections showed that five-year-ahead inflation expectations increased to 2.26% from 2.18%, while ten-year expectations remained unchanged at 2.15%. As for interest rates, respondents forecast the Official Cash Rate (OCR) to be at 3.02% by the end of the September 2025 quarter, declining further to 2.86% by the end of the June 2026 quarter.