New Zealand GDP Deflator
Inflation as measured by annual growth rate of GDP implicit deflator NY.GDP.DEFL.KD.ZG
New Zealand's gdp deflator was 3.73% in 2025, ranked 144th globally. This represents a 75.3% increase from 2024. Data from World Bank, covering 1961–2025.
Overview
New Zealand's gdp deflator stood at 3.73% in 2025, a rise of +1.60pp from 2024. Based on recent trends, this figure is projected to reach 3.73% by 2025. New Zealand ranked 144th globally.
New Zealand’s GDP deflator has risen to 3.73 percent in 2025, placing the country 144th in the world and just above Monaco’s 3.70 percent and just below South Africa’s 3.75 percent. Over the 65‑year series the index moved from a low of –2.40 percent in 1966, the all‑time trough, to a peak of 21.49 percent in 1976, reflecting the high inflationary pressures of the mid‑1970s. Since the 1970s the deflator has generally trended downward, hovering in the low‑single digits for most of the past three decades, with occasional spikes linked to commodity price shocks and exchange‑rate fluctuations. The modest 2025 reading suggests that price pressures remain contained, although future movements will depend on global energy costs, domestic wage growth and the Reserve Bank of New Zealand’s monetary stance, which could either reinforce the current low‑inflation trajectory or push it higher.
Data & projection
| Year | GDP Deflator | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 3.74% | - | - |
| 2026* trend | 3.73% | - | - |
| 2025* trend | 3.73% | - | - |
| 2025 | 3.73% | +1.60pp | #144 |
| 2024 | 2.13% | −2.02pp | #53 |
| 2023 | 4.15% | −1.74pp | #86 |
| 2022 | 5.89% | +1.33pp | #74 |
| 2021 | 4.56% | +2.65pp | #105 |
| 2020 | 1.92% | −1.22pp | #104 |
| 2019 | 3.14% | +1.38pp | #135 |
| 2018 | 1.76% | −1.85pp | #67 |
| 2017 | 3.61% | +1.19pp | #114 |
| 2016 | 2.42% | +0.96pp | #119 |
| 2015 | 1.46% | +1.02pp | #82 |
| 2014 | 0.45% | −3.74pp | #45 |
| 2013 | 4.18% | +4.36pp | #144 |
| 2012 | -0.18% | −2.65pp | #14 |
| 2011 | 2.47% | −0.69pp | #61 |
Analysis
New Zealand's gdp deflator was 3.73% in 2025, a rise of +1.60pp from 2024. Based on trends, estimated 3.73% by 2025.
Frequently Asked Questions
New Zealand's gdp deflator was 3.73% in 2025. Ranked 144th globally. This represents a 75.3% increase from the previous year.
New Zealand's gdp deflator peaked at 21.49% in 1976.
The lowest gdp deflator in New Zealand was -2.40% in 1966.
New Zealand ranks 144th globally in gdp deflator as of 2025.
The World Bank indicator code is NY.GDP.DEFL.KD.ZG. Data sourced from World Bank.
New Zealand's gdp deflator is projected to reach 3.73% by 2025 based on trend extrapolation.
The gdp deflator of New Zealand in 2025 was 3.73%. This ranks 144th in the world.
Cite this page
@misc{historysaid_new-zealand_gdp-deflator,
title = {New Zealand GDP Deflator},
url = {https://historysaid.com/new-zealand/gdp-deflator/},
publisher = {HistorySaid},
year = {2026}
}