The Consumers Price Index (CPI) measures changes to the prices of the consumer items New Zealand households buy, and provides a measure of household inflation. Data is available from 1916.

Data for the graph below is available in a spreadsheet containing all key graph data (XLSX <200KB).


Key graph: inflation

Under the current Policy Targets Agreement (PTA) the Reserve Bank is required to keep annual increases in the CPI between 1 and 3 percent on average over the medium term, with a focus on keeping future average inflation near the 2 percent target midpoint.

The CPI is compiled and published by Stats NZ. Data from 1916 is available in the key graph data file.