The consumers price index (CPI) measures the rate of price change of goods and services purchased by New Zealand households.
Key facts
The following table shows the price changes for the June 2025 quarter.
Description |
Quarterly percentage change |
Annual percentage change |
CPI all groups |
0.5 |
2.7 |
Tradeables |
0.3 |
1.2 |
Non-tradeables |
0.7 |
3.7 |
CPI excluding food group, household |
0.4 |
2.7 |
Note: Tables 3.01, 3.02, and 3.03 in the Excel file under Download data have more analytical groupings. |
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| Period ended | CPI all groups (quarterly) |
| Jun-21 | 1.3 |
| Sep-21 | 2.2 |
| Dec-21 | 1.4 |
| Mar-22 | 1.8 |
| Jun-22 | 1.7 |
| Sep-22 | 2.2 |
| Dec-22 | 1.4 |
| Mar-23 | 1.2 |
| Jun-23 | 1.1 |
| Sep-23 | 1.8 |
| Dec-23 | 0.5 |
| Mar-24 | 0.6 |
| Jun-24 | 0.4 |
| Sep-24 | 0.6 |
| Dec-24 | 0.5 |
| Mar-25 | 0.9 |
| Jun-25 | 0.5 |
| Period ended | CPI all groups (annual) | Tradeables (annual) | Non-tradeables (annual) |
| Jun-21 | 3.3 | 3.4 | 3.3 |
| Sep-21 | 4.9 | 5.7 | 4.5 |
| Dec-21 | 5.9 | 6.9 | 5.3 |
| Mar-22 | 6.9 | 8.5 | 6 |
| Jun-22 | 7.3 | 8.7 | 6.3 |
| Sep-22 | 7.2 | 8.1 | 6.6 |
| Dec-22 | 7.2 | 8.2 | 6.6 |
| Mar-23 | 6.7 | 6.4 | 6.8 |
| Jun-23 | 6 | 5.2 | 6.6 |
| Sep-23 | 5.6 | 4.7 | 6.3 |
| Dec-23 | 4.7 | 3 | 5.9 |
| Mar-24 | 4 | 1.6 | 5.8 |
| Jun-24 | 3.3 | 0.3 | 5.4 |
| Sep-24 | 2.2 | -1.6 | 4.9 |
| Dec-24 | 2.2 | -1.1 | 4.5 |
| Mar-25 | 2.5 | 0.3 | 4 |
| Jun-25 | 2.7 | 1.2 | 3.7 |
Quarterly change
Within the 0.5 percent rise in the CPI in the June 2025 quarter, higher prices were recorded for:
- cultural services, up 9.5 percent (25.8 percent contribution to the 0.5 percent rise for all groups)
- electricity, up 4.9 percent (24.7 percent contribution to all groups)
- vegetables, up 10.0 percent (20.4 percent contribution to all groups).
These were partly offset by lower prices for:
- petrol, down 4.8 percent (-31.7 percent contribution to all groups)
- domestic accommodation services, down 9.2 percent (-11.1 percent contribution to all groups).
In the June 2025 quarter, higher prices in cultural services were mainly driven by subscriptions for TV streaming services.
| Group | Percentage point contribution |
| Food | 0.273 |
| Alcoholic beverages and tobacco | -0.012 |
| Clothing and footwear | 0.005 |
| Housing and household utilities | 0.217 |
| Housing contents and services | 0.009 |
| Health | 0.004 |
| Transport | -0.119 |
| Communication | -0.004 |
| Recreation and culture | 0.063 |
| Education | 0 |
| Miscellaneous goods and services | 0.064 |
Annual change
Within the 2.7 percent increase in the CPI in the 12 months to the June 2025 quarter, higher prices were recorded for:
- local authority rates and payments, up 12.2 percent (12.9 percent contribution to the 2.7 percent rise for all groups)
- actual rentals for housing, up 3.2 percent (12.5 percent contribution to all groups)
- electricity, up 8.4 percent (8.4 percent contribution to all groups).
These were partly offset by lower prices for:
- petrol, down 8.0 percent (-12.8 percent contribution to all groups)
- early childhood education, down 22.8 percent (-4.7 percent contribution to all groups).
Early childhood education includes the FamilyBoost childcare payment introduced on 1 July 2024. Any changes to FamilyBoost from proposed legislation will start on 1 July 2025 and be included in the CPI release for the September 2025 quarter.
| Group | Percentage point contribution |
| Food | 0.77 |
| Alcoholic beverages and tobacco | 0.141 |
| Clothing and footwear | -0.026 |
| Housing and household utilities | 1.133 |
| Housing contents and services | -0.021 |
| Health | 0.174 |
| Transport | -0.121 |
| Communication | 0.037 |
| Recreation and culture | 0.346 |
| Education | 0.004 |
| Miscellaneous goods and services | 0.263 |
Tradeable and non-tradeable inflation
Tradeable inflation measures final goods and services that are influenced by foreign markets.
Within the 1.2 percent increase in tradeable inflation in the 12 months to the June 2025 quarter, higher prices were recorded for:
- overseas accommodation prepaid in New Zealand, up 9.1 percent (36.1 percent contribution to the 1.2 percent rise for all groups tradeable)
- milk, cheese, and eggs, up 11.1 percent (28.7 percent contribution to all groups tradeable).
These were partly offset by lower prices for:
- petrol, down 8.0 percent (-69.1 percent contribution to all groups tradeable)
- telecommunication equipment, down 25.2 percent (-21.9 percent contribution to all groups tradeable).
Non-tradeable inflation measures final goods and services that do not face foreign competition and is an indicator of domestic demand and supply conditions. However, the inputs of these goods and services can be influenced by foreign competition.
Within the 3.7 percent increase in non-tradeable inflation in the 12 months to the June 2025 quarter, higher prices were recorded for:
- local authority rates and payments, up 12.2 percent (16.0 percent contribution to the 3.7 percent rise for all groups non-tradeable)
- actual rentals for housing, up 3.2 percent (15.8 percent contribution to all groups non-tradeable).
These were partly offset by lower prices for:
- early childhood education, down 22.8 percent (-5.8 percent contribution to all groups non-tradeable)
- domestic accommodation services, down 6.3 percent (-2.1 percent contribution to all groups non-tradeable).
Percentage distribution of price change for CPI items
| Category | Less than 0 percent | 0 to <3 percent | 3 to 5 percent | More than 5 percent |
| Jun-17 | 26.8 | 42.2 | 14.8 | 16.2 |
| Sep-17 | 23.6 | 41.5 | 15.2 | 19.8 |
| Dec-17 | 23.4 | 42.4 | 12.5 | 21.7 |
| Mar-18 | 27.1 | 41.3 | 17.6 | 14.0 |
| Jun-18 | 27.1 | 37.6 | 18.6 | 16.7 |
| Sep-18 | 28.6 | 38.6 | 14.7 | 18.2 |
| Dec-18 | 25.9 | 40.4 | 15.7 | 18.0 |
| Mar-19 | 23.7 | 43.4 | 18.7 | 14.1 |
| Jun-19 | 23.6 | 42.4 | 20.5 | 13.5 |
| Sep-19 | 28.1 | 39.3 | 18.9 | 13.6 |
| Dec-19 | 24.6 | 40.2 | 22.2 | 12.9 |
| Mar-20 | 20.0 | 35.6 | 25.7 | 18.7 |
| Jun-20 | 24.8 | 39.1 | 16.8 | 19.3 |
| Sep-20 | 29.2 | 41.0 | 11.6 | 18.2 |
| Dec-20 | 25.5 | 31.8 | 24.1 | 18.6 |
| Mar-21 | 31.9 | 30.1 | 24.1 | 13.9 |
| Jun-21 | 23.5 | 27.6 | 13.9 | 35.0 |
| Sep-21 | 16.3 | 27.0 | 20.0 | 36.6 |
| Dec-21 | 17.2 | 22.1 | 22.3 | 38.3 |
| Mar-22 | 10.9 | 22.6 | 24.1 | 42.4 |
| Jun-22 | 7.2 | 18.5 | 22.1 | 52.2 |
| Sep-22 | 6.7 | 12.9 | 28.8 | 51.6 |
| Dec-22 | 5.2 | 21.2 | 20.8 | 52.8 |
| Mar-23 | 13.4 | 9.8 | 22.2 | 54.6 |
| Jun-23 | 9.1 | 10.4 | 21.3 | 59.2 |
| Sep-23 | 6.8 | 10.0 | 26.6 | 56.6 |
| Dec-23 | 12.6 | 12.3 | 31.5 | 43.5 |
| Mar-24 | 15.0 | 14.6 | 31.2 | 39.2 |
| Jun-24 | 20.6 | 14.4 | 35.2 | 29.8 |
| Sep-24 | 25.2 | 26.1 | 19.9 | 28.8 |
| Dec-24 | 25.5 | 24.8 | 24.9 | 24.8 |
| Mar-25 | 25.7 | 27.6 | 23.2 | 23.4 |
| Jun-25 | 24.0 | 40.3 | 10.3 | 25.4 |
More data
Use Infoshare to access the CPI time series:
Subject category: Economic indicators
Group: Consumers price index
Definitions and metadata
Consumers price index concepts - DataInfo+ gives definitions of terms used in this release and general methodology used to produce the CPI and related metadata.
Consumers price index - DataInfo+ gives general methodology used to produce the CPI and related metadata.
Technical enquiries
Krutarth Patel
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04 931 4600
ISSN 1178-0452
Next release
Consumers price index: September 2025 quarter will be released on 20 October 2025.
