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 |