Inflation New Zealand 2004
Average inflation: 2.3%
Current Inflation
Inflation is normal at 2.3%, around the ECB target.
Peak and Trough
The highest inflation was in December at 2.7%. The lowest inflation was in March at 1.5%.
- Highest month
- December: 2.7%
- Lowest month
- March: 1.5%
- Difference
- 1.2 percentage points
- Months with data
- 4 of 12
Category Insights
The highest price increase was in Energy with an average of 10.3%. The lowest price increase was in Food with an average of 0.3%.
- Highest increase
- Energy: 10.3%
- Lowest increase
- Food: 0.3%
Historical Context
Current inflation is around the 5-year average of 2.4%.
- 5-year average
- 2.4%
- 10-year average
- 2%
- All-time high (1987)
- 15.9%
- All-time low (1999)
- -0.1%
Trend
Inflation has remained relatively stable. Compared to 2003, the difference is minimal (+0.5 percentage point).
- Change vs. previous year
- +0.5 percentage points
- Largest monthly swing
- December: +1.1 percentage points
ECB Target
Inflation is close to the ECB target of 2.0%.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €102.30 next year at this inflation rate.
Multi-year trend
Monthly figures 2004
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2003 |
|---|---|---|
| March | 1.5% | -1.0 |
| June | 2.4% | +0.9 |
| September | 2.5% | +1.0 |
| December | 2.7% | +1.1 |
| Average | 2.3% |
Data source
Data from WorldBank. Last updated: 04/01/2026.