New Zealand Inflation Rate
Consumer price inflation, annual % FP.CPI.TOTL.ZG
New Zealand's inflation rate was 2.74% in 2025, ranked 107th globally. This represents a 6.3% decrease from 2024. Data from World Bank, covering 1960–2025.
Overview
New Zealand's inflation rate stood at 2.74% in 2025, a decline of +0.18pp from 2024. The IMF projects 2.74% by 2025. New Zealand ranked 107th globally.
New Zealand’s inflation rate in 2025 stood at 2.74 percent, placing the country 107th worldwide and marginally above the United States (2.71 percent) while remaining close to Dominica and India at 2.82 percent. Over the 66‑year series, the index has swung dramatically, reaching an all‑time high of 17.15 percent in 1980 amid tight monetary conditions and a global oil shock, then falling to a trough of –0.11 percent in 1999 during a period of deflationary pressure and a strong exchange rate. The early 1960s saw inflation as low as 0.70 percent, reflecting a relatively stable price environment before the volatile 1970s and 1980s. Since the late 1990s, inflation has trended upward but remained within the central bank’s target band, suggesting effective policy anchoring. Continued moderation will depend on the Reserve Bank’s ability to manage wage growth and external price shocks, which could either sustain the current low‑inflation path or prompt a recalibration of monetary stance.
Data & projection
| Year | Inflation Rate | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | 2.02% | - | - |
| 2029* IMF | 2.02% | - | - |
| 2028* IMF | 2.02% | - | - |
| 2027* IMF | 1.97% | - | - |
| 2026* IMF | 2.10% | - | - |
| 2025* IMF | 2.74% | - | - |
| 2025 | 2.74% | −0.18pp | #107 |
| 2024 | 2.92% | −2.81pp | #91 |
| 2023 | 5.73% | −1.44pp | #95 |
| 2022 | 7.17% | +3.23pp | #85 |
| 2021 | 3.94% | +2.23pp | #111 |
| 2020 | 1.71% | +0.09pp | #93 |
| 2019 | 1.62% | +0.02pp | #75 |
| 2018 | 1.60% | −0.25pp | #64 |
| 2017 | 1.85% | +1.20pp | #80 |
| 2016 | 0.65% | +0.35pp | #72 |
| 2015 | 0.29% | −0.94pp | #61 |
| 2014 | 1.23% | +0.09pp | #71 |
| 2013 | 1.13% | +0.07pp | #47 |
| 2012 | 1.06% | −2.97pp | #15 |
| 2011 | 4.03% | +1.73pp | #83 |
Analysis
New Zealand's inflation rate was 2.74% in 2025, a decline of −0.18pp from 2024. IMF projects 2.74% by 2025.
Frequently Asked Questions
New Zealand's inflation rate was 2.74% in 2025. Ranked 107th globally. This represents a 6.3% decrease from the previous year.
New Zealand's inflation rate peaked at 17.15% in 1980.
The lowest inflation rate in New Zealand was -0.11% in 1999.
New Zealand ranks 107th globally in inflation rate as of 2025.
The World Bank indicator code is FP.CPI.TOTL.ZG. Data sourced from World Bank.
New Zealand's inflation rate is projected to reach 2.74% by 2025 based on IMF projection.
The inflation rate of New Zealand in 2025 was 2.74%. This ranks 107th in the world.
Cite this page
@misc{historysaid_new-zealand_inflation-rate,
title = {New Zealand Inflation Rate},
url = {https://historysaid.com/new-zealand/inflation-rate/},
publisher = {HistorySaid},
year = {2026}
}