New Zealand Inflation Rate

Last Release

Mar 31, 2024

Actual

Units In

4.7

Frequency

Quarterly

Next Release

Jul 18, 2024

Time to Release

3 Months 0 Days 12 Hours

Highest	Lowest	Average	Date Range	Source
44 Sep 1918	-15.3 Mar 1923	4.63 %	1918-2024	Statistics New Zealand

In New Zealand, the most important category in the consumer price index is Housing and Utilities (24.2 percent of total weight). Food and Non-Alcoholic Beverages accounts for 18.8 percent; Transport for 15 percent; Recreation and Culture for 9.4 percent; Miscellaneous Goods and Services for 7.4 percent and Alcoholic beverages and Tobacco for 7 percent. Furniture, Household Goods and Maintenance; Clothing and Footwear; Health; Communication and Education account for the remaining 18.2 percent of total weight.

Latest Updates

The annual inflation rate in New Zealand eased to 4% in the March quarter of 2024, from 4.7% in the fourth quarter. It pointed to the lowest figure since the second quarter of 2021. The largest contributor was Housing and household utilities increased 4.5 percent as prices went up for rent (up 4.7 percent), construction (up 3.3 percent) and property rates and related services (up 9.6 percent). Recreation and culture increased 5.6 percent, driven by rise in cost of accommodation services (up 10.6 percent); recreational and cultural services (up 7.4 percent); other recreational equipment and supplies (up 3.6 percent). Alcoholic beverages and tobacco increased 7.4 percent, due to higher cost of cigarettes and tobacco (up 10.4 percent) and alcoholic beverages (up 5.0 percent).