New Zealand: Inflation stays above target in Q1
Latest reading: Inflation held at 3.1% in Q1 2026, matching Q4’s six-quarter high, exceeding market forecasts and remaining above the Central Bank’s 1.0–3.0% target range.
Inflation was driven by a surge in electricity prices of 12.5% plus an 8.8% rise in local authority charges. On a quarterly basis, prices increased by 0.9% in Q1, accelerating from a 0.6% rise in the previous quarter.