Inflation New Zealand 2022
Average inflation: 7.1%
Current Inflation
Inflation is very high at 7.1%, far above the ECB target.
Peak and Trough
The highest inflation was in June at 7.3%. The lowest inflation was in March at 6.9%.
- Highest month
- June: 7.3%
- Lowest month
- March: 6.9%
- Difference
- 0.4 percentage points
- Months with data
- 4 of 12
Category Insights
The highest price increase was in Energy with an average of 13.7%. The lowest price increase was in Core inflation with an average of 6.0%.
- Highest increase
- Energy: 13.7%
- Lowest increase
- Core inflation: 6.0%
Historical Context
Current inflation is 3.9% higher than the 5-year average of 3.2%. This approaches the highest level since records began (7.1% in 2022).
- 5-year average
- 3.2%
- 10-year average
- 2.1%
- All-time high (2022)
- 7.1%
- All-time low (2015)
- 0.3%
Trend
Inflation shows an upward trend. Compared to 2021, inflation has risen by +3.2 percentage point.
- Change vs. previous year
- +3.2 percentage points
- Largest monthly swing
- March: +5.4 percentage points
ECB Target
Inflation is 5.1% 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 €107.10 next year at this inflation rate.
Multi-year trend
Monthly figures 2022
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2021 |
|---|---|---|
| March | 6.9% | +5.4 |
| June | 7.3% | +4.0 |
| September | 7.2% | +2.3 |
| December | 7.2% | +1.3 |
| Average | 7.1% |
Data source
Data from WorldBank. Last updated: 04/01/2026.