New Zealand CPI Rises to 4.1% in Q2, Beating Forecasts

New Zealand's Consumer Price Index (CPI) rose 4.1% year-on-year in the second quarter of 2026, compared to 3.1% in the previous quarter, according to Statistics New Zealand. The market consensus was for a growth of 4.0%.

The quarterly data marks a continued acceleration in inflation, which had slowed earlier in the year. The higher-than-expected reading may reduce the likelihood of near-term rate cuts by the Reserve Bank of New Zealand.