Consumers Price Index: September 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 September 2026 quarter.

Quarterly change

Within the 0.7 percent rise in the CPI in the September 2026 quarter, higher prices were recorded for:

• international air transport, up 14.3 percent (36.2 percent contribution to the 0.7 percent rise for all groups)
• local authority rates and payments, up 6.2 percent (29.1 percent contribution to all groups)
• vegetables, up 10.5 percent (18.0 percent contribution to all groups).

Lower prices were recorded for:

• petrol, down 6.5 percent (-40.4 percent contribution to all groups)
• other vehicle fuels and lubricants, down 15.5 percent (-16.4 percent contribution to all groups).

Annual change

Within the 3.7 percent increase in the CPI in the 12 months to the September 2026 quarter, higher prices were recorded for:

• petrol, up 19.1 percent (17.5 percent contribution to the 3.7 percent rise for all groups)
• purchase of housing, up 3.2 percent (7.9 percent contribution to all groups)
• electricity, up 9.3 percent (7.2 percent contribution to all groups).

Lower prices were recorded for:

• oils and fats, down 8.3 percent (-0.8 percent contribution to all groups)
• vegetables, down 2.2 percent (-0.8 percent contribution to all groups).

Distribution of CPI annual price change

In the 12 months to the September 2026 quarter, 85.5 percent of the CPI basket increased in price.

Over the same period, 54.9 percent of the CPI basket increased by more than 3.0 percent, up from 38.5 percent in the 12 months to the June 2026 quarter.

Tradeable and non-tradeable inflation

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

Within the 4.3 percent increase in tradeable inflation in the 12 months to the September 2026 quarter, higher prices were recorded for:

• petrol, up 19.1 percent (36.6 percent contribution to the 4.3 percent rise for all groups tradeable)
• international air transport, up 12.5 percent (12.6 percent contribution to all groups tradeable).

Lower prices were recorded for:

• oils and fats, down 8.3 percent (-1.8 percent contribution to all groups tradeable)
• vegetables, down 2.2 percent (-1.7 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 3.3 percent increase in non-tradeable inflation in the 12 months to the September 2026 quarter, higher prices were recorded for:

• purchase of housing, up 3.2 percent (15.0 percent contribution to the 3.3 percent rise for all groups non-tradeable)
• electricity, up 9.3 percent (13.7 percent contribution to all groups non-tradeable).

Lower prices were recorded for:

• milk, cheese, and eggs, down 14.7 percent (-2.8 percent contribution to all groups non-tradeable)
• other miscellaneous services (driven by auction services), down 5.9 percent (-1.0 percent contribution to all groups non-tradeable).

Note: Eggs is the only non-tradeable item in the milk, cheese, and eggs class.

Annual inflation, international comparisons

OECD Inflation has more data on international inflation rates.

Information on water rates and local authority rates

Since 1 July 2026, Tiaki Wai (serving Porirua, the Hutt Valley, and Wellington), IAWAI (serving Hamilton and Waikato), and Selwyn Water Limited (serving Selwyn) have separated water service charges from council rates. Following these changes, we now collect water service charges directly from these entities.

To align with the expenditure classification and weights used in the current CPI, these water service charges have been added back into the local authority rates item. This reflects the 2024 CPI reweighting, which treated council rates in these regions as inclusive of these services.

As a result, the local authority rates class remains comparable with previous periods, as the class continues to represent these separated water service charges despite the new water service entities now directly providing us their charges.

Metered water charges are still included in the water rates item, consistent with their historical treatment. This approach is unchanged, as the water supply component of the CPI weighting is based on metered water charges rather than the newly separated water service entities.

Property rates and related services is the aggregated CPI subgroup that includes local authority rates, water supply, and refuse disposal and recycling services.

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.

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Technical enquiries

Prices and deflators team
[email protected]
04 931 4600

ISSN 1178-0452

Next release

Consumers price index: December 2026 quarter will be released on 27 January 2027.