Consumers Price Index: March 2026 Quarter

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 March 2026 quarter.

Quarterly change

Within the 0.9 percent rise in the CPI in the March 2026 quarter, higher prices were recorded for:

• petrol, up 3.5 percent (13.4 percent contribution to the 0.9 percent rise for all groups)
• pharmaceutical products, up 17.7 percent (13.0 percent contribution to all groups)
• confectionery, nuts, and snacks, up 6.2 percent (9.8 percent contribution to all groups).

Lower prices were recorded for:

• international air transport, down 7.0 percent (-14.6 percent contribution to all groups)
• overseas accommodation prepaid in New Zealand, down 4.0 percent (-9.4 percent contribution to all groups).

Annual change

Within the 3.1 percent increase in the CPI in the 12 months to the March 2026 quarter, higher prices were recorded for:

• electricity, up 12.5 percent (10.9 percent contribution to the 3.1 percent rise for all groups)
• local authority rates and payments, up 8.8 percent (8.7 percent contribution to all groups)
• meat and poultry, up 8.6 percent (6.4 percent contribution to all groups).

Lower prices were recorded for:

• audio-visual equipment, down 21.2 percent (-1.4 percent contribution to all groups)
• real estate services, down 4.8 percent (-1.0 percent contribution to all groups).

Tradeable and non-tradeable inflation

Tradeable inflation measures final goods and services that are influenced by foreign markets.

Within the 2.5 percent increase in tradeable inflation in the 12 months to the March 2026 quarter, higher prices were recorded for:

• meat and poultry, up 11.8 percent (16.6 percent contribution to the 2.5 percent rise for all groups tradeable)
• cultural services, up 17.8 percent (10.0 percent contribution to all groups tradeable).

Lower prices were recorded for:

• audio-visual equipment, down 21.2 percent (-4.1 percent contribution to all groups tradeable)
• computing equipment, down 8.6 percent (-2.3 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 3.5 percent increase in non-tradeable inflation in the 12 months to the March 2026 quarter, higher prices were recorded for:

• electricity, up 12.5 percent (16.9 percent contribution to the 3.5 percent rise for all groups non-tradeable)
• local authority rates, up 8.8 percent (13.4 percent contribution to all groups non-tradeable).

Lower prices were recorded for:

• real estate services, down 4.8 percent (-1.5 percent contribution to all groups non-tradeable)
• milk, cheese, and eggs, down 4.3 percent (-0.7 percent contribution to all groups non-tradeable).

Additional central and local government charges series

We have reviewed and updated which items are included in the central and local government charges series to ensure the series reflect current government charges.

The existing series will continue to be available in Infoshare and within our published CPI release Excel tables. The new series will be linked on (and replace) the existing series as part of the next CPI review.

The five new series are:

• Central government charges (brand new)
• Local government charges (brand new)
• Central and local government charges (new version of existing series)
• All groups less central and local government charges (new version of existing series)
• All groups less food, household energy, vehicle fuels, and government charges (new version of existing series).

Price index methods - updates for the March 2026 quarter has more information.

These series and weights can be accessed in the 'Central and local government charges' file under Download data.

Annual inflation, international comparisons

OECD Inflation has more data on international inflation rates.

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

Prices and deflators team
[email protected]
04 931 4600

ISSN 1178-0452

Next release

Consumers price index: June 2026 quarter will be released on 21 July 2026.