Inflation

The raw data for the graph(s) below is available in a spreadsheet containing all key graph data (XLSX <164KB).
 

Last updated: 26 January 2017

Fig 1 — Inflation since 1990

Key graph: inflation since 1990

Since 2000, New Zealand CPI (’consumers price index’) inflation has averaged around 2.7%. This compares with averages of 2.4 % in the 1990s, and averages of over 11% for the previous two decades. Since September 2002, the inflation target has been to keep inflation within a range of 1-3 per cent on average over the medium-term. 

Fig 2 — Inflation since 1970 

 Key graph: inflation since 1970

Since September 2002, the inflation target has been to keep inflation within a range of 1-3 per cent on average over the medium-term. Since 1990 CPI inflation has averaged around 2.5%. This compares with averages of around 12% in the 1970s and 11% in the 1980s.

Notes

  • CPI is published on a base of 2006Q2=1000. The plotted series excludes interest rates, which were removed from the CPI regimen in 1999, but includes GST effects.