New Zealand: Inflation ticks up in Q4
Latest reading: New Zealand’s inflationary pressures strengthened toward the end of 2025, with the annual CPI rising to 3.1% in the December quarter—its fastest pace since mid-2024. This marked a modest acceleration from the 3.0% recorded in the prior quarter and came in marginally above market expectations.
Price increases were concentrated almost entirely in housing-related costs, led by a sharp surge in electricity prices, which jumped 12.2% and reached their highest level since early 1989. Local authority charges rose 8.8%, while rents increased by 1.9%.
On a quarterly basis, consumer prices climbed 0.6%, easing from the 1.0% increase observed in the preceding quarter.