Monthly inflation figures to be published by Stats NZ from May
Thursday, 23 July 2026
New Zealanders can expect to hear about inflation much more frequently from May, when Stats NZ begins publishing unoffical updates to the Consumers Price Index every month, rather than every quarter.
There will also be more updates on the Official Cash Rate, as the Reserve Bank increases the number of times it meets each year to consider OCR changes from seven to eight.
Stats NZ agreed to provide monthly inflation updates last year after encouragement from the Reserve Bank, which had made it clear it would find more timely data useful.
It will produce its first “transitional” monthly report in May ‒ covering the inflation rate in April ‒ though the more regular releases won’t become “official” until July.
Read more:
Stats NZ chief executive Colin Lynch said the more frequent data would provide a more current view on price changes, but it would not simply be a case of publishing the existing CPI more often.
“We are changing how price information is collected, processed, checked, and published so we can produce reliable information every month.”
Senior manager Jason Attewell said the CPI would still be derived from a basket of 598 commonly bought goods and services, but it would be collecting many more price points by reducing its reliance on postal surveys and in-store checks and getting more data directly from retailers’ sales systems.
The changes would make the data more comprehensive, he said.
Lynch said the CPI was used to inform decisions on interest rates, government policy, business planning, contracts and household finances, so it would be a “major change to one of New Zealand’s most important economic measures”.
Stats NZ did, however, start publishing changes to many frequently bought items, including food and rents, in 2023, making next year’s shift somewhat less of a step change.
Bank economists’ forecasts of quarterly inflation have become notably more accurate since that data started appearing, suggesting that has already removed a lot of uncertainty over price changes in the economy.
Statistics Minister Scott Simpson nevertheless described the move to monthly CPI reporting as “one of the biggest improvements to New Zealand's economic statistics in decades”.
Stats NZ currently holds quarterly “lock-ups” to brief policy-makers, analysts and media on its inflation figures, before their public release.
Attewell said those were likely to continue, at least initially, but Stats NZ might consult down the track on whether they were still wanted, given the more frequent data.