Inflation New Zealand 1978
Average inflation: 12.0%
Current Inflation
Inflation is very high at 12.0%, far above the ECB target.
Peak and Trough
The highest inflation was in March at 14.6%. The lowest inflation was in December at 10.1%.
- Highest month
- March: 14.6%
- Lowest month
- December: 10.1%
- Difference
- 4.5 percentage points
- Months with data
- 4 of 12
Category Insights
The highest price increase was in Core inflation with an average of 12.3%. The lowest price increase was in Food with an average of 10.8%.
- Highest increase
- Core inflation: 12.3%
- Lowest increase
- Food: 10.8%
Historical Context
Current inflation is 1.8% lower than the 5-year average of 13.8%.
- 5-year average
- 13.8%
- 10-year average
- 11.8%
- All-time high (1976)
- 16.9%
- All-time low (1972)
- 7%
Trend
Inflation shows a downward trend. Compared to 1977, inflation has fallen by +2.4 percentage point.
- Change vs. previous year
- -2.4 percentage points
- Largest monthly swing
- December: -5.2 percentage points
ECB Target
Inflation is 10.0% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €112.00 next year at this inflation rate.
Multi-year trend
Monthly figures 1978
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 1977 |
|---|---|---|
| March | 14.6% | +0.9 |
| June | 12.3% | -1.7 |
| September | 11.1% | -3.3 |
| December | 10.1% | -5.2 |
| Average | 12.0% |
Data source
Data from WorldBank. Last updated: 04/01/2026.