Annual inflation
3.11%
YoY ending in Q4 2025
The graph above shows the annual inflation rates in New Zealand covering the previous 10 calendar years, starting in 2016. For additional years, see the historical inflation rates. To calculate cumulative rates between two different periods, you can use the New Zealand Inflation Calculator.
The current inflation rate in New Zealand is 3.11%, which is calculated based on CPI (Consumer Price Index) values for the last 12 months ending in 2025 Q4.
In 2025 Q4, the quarterly inflation rate was 0.61.
The following table contains recent YoY (Year-over-Year) and QoQ (Quarter-over-Quarter) values.
| Year | Measure | Q1 | Q2 | Q3 | Q4 |
|---|---|---|---|---|---|
| 2025 | YoY | 2.53 | 2.67 | 3.05 | 3.11 |
| QoQ | 0.93 | 0.54 | 1.00 | 0.61 | |
| 2024 | YoY | 4.02 | 3.33 | 2.15 | 2.22 |
| QoQ | 0.64 | 0.39 | 0.63 | 0.55 |
The table below contains annual inflation rates in New Zealand since 1926. The 'Inflation %' column indicates how much prices have changed since the previous year.
The 5-year and 10-year columns display rolling averages of annual inflation. For example, the 5-year average on the first row indicates that between 2020 and 2025, the average inflation rate was 4.51%. These values can be useful for long-term analysis and forecasting.
You can click or tap the table’s headers to sort the information.
| Year | Inflation (%) | 5-year Avg. (%) | 10-year Avg. (%) |
|---|---|---|---|
| 1926 | -0.61 | - | - |
| 1927 | -0.92 | - | - |
| 1928 | 0.62 | - | - |
| 1929 | -0.47 | - | - |
| 1930 | -3.99 | - | - |
| 1931 | -7.79 | -2.20 | - |
| 1932 | -9.23 | -3.62 | - |
| 1933 | -0.74 | -4.53 | - |
| 1934 | 1.25 | -4.21 | - |
| 1935 | 5.56 | -3.12 | - |
| 1936 | 3.27 | -0.99 | -1.59 |
| 1937 | 7.25 | 2.01 | -0.84 |
| 1938 | 0.63 | 3.56 | -0.56 |
| 1939 | 7.66 | 4.21 | -0.09 |
| 1940 | 2.73 | 4.29 | 0.52 |
| 1941 | 3.80 | 4.47 | 1.71 |
| 1942 | 3.93 | 3.73 | 2.87 |
| 1943 | 1.41 | 3.63 | 3.60 |
| 1944 | 1.47 | 3.06 | 3.63 |
| 1945 | 1.28 | 2.50 | 3.39 |
| 1946 | -0.17 | 1.91 | 3.18 |
| 1947 | 10.14 | 1.92 | 2.82 |
| 1948 | 1.61 | 2.96 | 3.30 |
| 1949 | 1.80 | 2.95 | 3.00 |
| 1950 | 8.55 | 3.81 | 3.16 |
| 1951 | 11.95 | 5.85 | 3.86 |
| 1952 | 4.61 | 6.75 | 4.30 |
| 1953 | 5.56 | 6.09 | 4.51 |
| 1954 | 2.42 | 6.70 | 4.80 |
| 1955 | 2.50 | 6.04 | 4.92 |
| 1956 | 4.61 | 4.56 | 5.20 |
| 1957 | 1.81 | 3.46 | 5.09 |
| 1958 | 6.46 | 3.44 | 4.76 |
| 1959 | 1.14 | 3.29 | 4.98 |
| 1960 | 1.57 | 2.92 | 4.47 |
| 1961 | 2.14 | 2.58 | 3.57 |
| 1962 | 2.10 | 2.68 | 3.07 |
| 1963 | 2.22 | 2.19 | 2.81 |
| 1964 | 4.50 | 2.12 | 2.70 |
| 1965 | 2.38 | 2.66 | 2.79 |
| 1966 | 2.36 | 2.85 | 2.72 |
| 1967 | 6.56 | 3.52 | 3.10 |
| 1968 | 5.07 | 3.99 | 3.09 |
| 1969 | 3.97 | 4.28 | 3.20 |
| 1970 | 9.95 | 4.90 | 3.78 |
| 1971 | 9.13 | 6.42 | 4.62 |
| 1972 | 5.46 | 6.59 | 5.05 |
| 1973 | 10.16 | 7.37 | 5.67 |
| 1974 | 12.55 | 8.61 | 6.42 |
| 1975 | 15.70 | 10.22 | 7.53 |
| 1976 | 15.64 | 11.50 | 8.93 |
| 1977 | 15.32 | 13.01 | 9.75 |
| 1978 | 10.10 | 13.79 | 10.53 |
| 1979 | 16.53 | 14.32 | 11.42 |
| 1980 | 16.13 | 14.80 | 12.49 |
| 1981 | 15.70 | 14.50 | 12.99 |
| 1982 | 15.30 | 14.85 | 13.93 |
| 1983 | 3.60 | 13.89 | 13.84 |
| 1984 | 9.40 | 12.34 | 13.32 |
| 1985 | 15.27 | 12.01 | 13.40 |
| 1986 | 18.24 | 11.58 | 13.03 |
| 1987 | 9.59 | 11.50 | 13.17 |
| 1988 | 4.71 | 11.30 | 12.59 |
| 1989 | 7.20 | 11.21 | 11.77 |
| 1990 | 4.85 | 9.35 | 10.67 |
| 1991 | 0.98 | 7.22 | 9.38 |
| 1992 | 1.32 | 4.34 | 7.86 |
| 1993 | 1.39 | 3.32 | 7.24 |
| 1994 | 2.80 | 2.53 | 6.78 |
| 1995 | 2.92 | 2.08 | 5.65 |
| 1996 | 2.55 | 2.01 | 4.58 |
| 1997 | 0.83 | 2.05 | 3.19 |
| 1998 | 0.37 | 2.04 | 2.68 |
| 1999 | 0.51 | 1.67 | 2.10 |
| 2000 | 3.98 | 1.44 | 1.76 |
| 2001 | 1.82 | 1.51 | 1.76 |
| 2002 | 2.72 | 1.81 | 1.93 |
| 2003 | 1.55 | 1.91 | 1.97 |
| 2004 | 2.70 | 2.39 | 2.03 |
| 2005 | 3.16 | 2.48 | 1.96 |
| 2006 | 2.63 | 2.62 | 2.07 |
| 2007 | 3.18 | 2.56 | 2.18 |
| 2008 | 3.38 | 3.00 | 2.45 |
| 2009 | 1.96 | 2.97 | 2.68 |
| 2010 | 4.03 | 2.82 | 2.65 |
| 2011 | 1.85 | 2.95 | 2.79 |
| 2012 | 0.95 | 2.69 | 2.62 |
| 2013 | 1.63 | 2.12 | 2.56 |
| 2014 | 0.76 | 1.94 | 2.46 |
| 2015 | 0.08 | 1.54 | 2.18 |
| 2016 | 1.34 | 0.87 | 1.91 |
| 2017 | 1.59 | 1.03 | 1.85 |
| 2018 | 1.89 | 1.12 | 1.62 |
| 2019 | 1.85 | 1.20 | 1.57 |
| 2020 | 1.44 | 1.48 | 1.51 |
| 2021 | 5.95 | 2.14 | 1.50 |
| 2022 | 7.22 | 3.19 | 2.10 |
| 2023 | 4.66 | 4.01 | 2.56 |
| 2024 | 2.22 | 4.28 | 2.73 |
| 2025 | 3.11 | 4.51 | 2.99 |
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