New Zealand’s consumer price inflation accelerated in the second quarter of 2026, highlighting a renewed pickup in price pressures. Quarter-over-quarter CPI rose 1.5% in Q2 2026, up from a 0.9% increase in the first quarter of 2026.
The data, updated on 20 July 2026, show a notable strengthening in quarterly inflation momentum. The current reading compares the change in prices in the second quarter against the first quarter, while the previous figure reflected the change from the first quarter versus the quarter before it. The step-up from 0.9% to 1.5% indicates that inflationary forces intensified as the year progressed, potentially sharpening the focus of policymakers and markets on the trajectory of New Zealand’s price growth in the coming quarters.
