# New Zealand Inflation Rate (CPI)

New Zealand Inflation Rate (CPI) was up 3.7% year on year in Q3 2026, compared with 4.1% in Q2 2026.
The level stood at 1,368.0 (index).
Among the 80 economies Makrognosis covers on this measure, it is the 39th lowest.
Over the past ten years it has ranged from 0.4% (Q3 2016) to 7.3% (Q2 2022), averaging 3.2%.

- Source agency: Stats NZ
- Makrognosis code: `NZ.CPI.Q.NSA`
- Frequency: quarterly
- Units: index
- Coverage: 1914-06-01 to 2026-09-01 (423 observations)
- Page: https://makrognosis.robomacro.com/data/new-zealand/inflation-rate-cpi

## Recent data

| Period | Value | Y/Y % |
|---|---:|---:|
| Q3 2026 | 1,368.0 | 3.7 |
| Q2 2026 | 1,359.0 | 4.1 |
| Q1 2026 | 1,339.0 | 3.1 |
| Q4 2025 | 1,327.0 | 3.1 |
| Q3 2025 | 1,319.0 | 3.0 |
| Q2 2025 | 1,306.0 | 2.7 |
| Q1 2025 | 1,299.0 | 2.5 |
| Q4 2024 | 1,287.0 | 2.2 |
| Q3 2024 | 1,280.0 | 2.2 |
| Q2 2024 | 1,272.0 | 3.3 |
| Q1 2024 | 1,267.0 | 4.0 |
| Q4 2023 | 1,259.0 | 4.7 |
| Q3 2023 | 1,253.0 | 5.6 |
| Q2 2023 | 1,231.0 | 6.0 |
| Q1 2023 | 1,218.0 | 6.7 |
| Q4 2022 | 1,203.0 | 7.2 |
| Q3 2022 | 1,186.0 | 7.2 |
| Q2 2022 | 1,161.0 | 7.3 |
| Q1 2022 | 1,142.0 | 6.9 |
| Q4 2021 | 1,122.0 | 5.9 |
| Q3 2021 | 1,106.0 | 4.9 |
| Q2 2021 | 1,082.0 | 3.3 |
| Q1 2021 | 1,068.0 | 1.5 |
| Q4 2020 | 1,059.0 | 1.4 |

## API

```
curl -H "X-API-Key: $MAKROGNOSIS_KEY" \
  "https://makrognosis.robomacro.com/v1/series/NZ.CPI.Q.NSA"

# Python
import requests
r = requests.get("https://makrognosis.robomacro.com/v1/series/NZ.CPI.Q.NSA",
                 headers={"X-API-Key": KEY})
obs = r.json()["observations"]
```