Inflation New Zealand 2021
Average inflation: 3.9%
Current Inflation
Inflation is high at 3.9%, well above the ECB target.
Peak and Trough
The highest inflation was in December at 5.9%. The lowest inflation was in March at 1.5%.
- Highest month
- December: 5.9%
- Lowest month
- March: 1.5%
- Difference
- 4.4 percentage points
- Months with data
- 4 of 12
Category Insights
The highest price increase was in Energy with an average of 8.7%. The lowest price increase was in Food with an average of 1.8%.
- Highest increase
- Energy: 8.7%
- Lowest increase
- Food: 1.8%
Historical Context
Current inflation is 1.8% higher than the 5-year average of 2.1%. This approaches the highest level since records began (4.0% in 2011).
- 5-year average
- 2.1%
- 10-year average
- 1.5%
- All-time high (2011)
- 4%
- All-time low (2015)
- 0.3%
Trend
Inflation shows an upward trend. Compared to 2020, inflation has risen by +2.2 percentage point.
- Change vs. previous year
- +2.2 percentage points
- Largest monthly swing
- December: +4.5 percentage points
ECB Target
Inflation is 1.9% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
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 €103.90 next year at this inflation rate.
Multi-year trend
Monthly figures 2021
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2020 |
|---|---|---|
| March | 1.5% | -1.0 |
| June | 3.3% | +1.8 |
| September | 4.9% | +3.5 |
| December | 5.9% | +4.5 |
| Average | 3.9% |
Data source
Data from WorldBank. Last updated: 04/01/2026.