New Zealand’s producer price inflation slowed markedly in the fourth quarter of 2025, signaling easing cost pressures at the factory gate. According to the latest data updated on 17 February 2026, PPI Output rose just 0.1% quarter-over-quarter, down from a 0.6% increase in the third quarter of 2025.
On a quarter-over-quarter basis, the new reading shows a clear deceleration in price growth received by producers. While the third quarter had already reflected moderate inflationary momentum, the fourth-quarter figure suggests that upstream pricing pressures are losing steam, a development that could eventually filter through to consumer prices and corporate margins.
The comparison framework underscores this shift: the current “actual” figure compares the change in prices in the fourth quarter of 2025 to the third quarter, while the “previous” figure represents the change in the third quarter relative to the second quarter of 2025. The step down from 0.6% to 0.1% highlights a significant cooling in producer price dynamics toward the end of 2025.
